Piper Jaffray Maintains Immucor Neutral, Increases PT to $27

Piper Jaffray maintained its Immucor

Neutral rating and increased its Immucor price target from $17 to $27 in a research report published today. In the report, Piper Jaffray states, "This morning, Immucor announced a definitive agreement to be acquired by private equity investment firm TPG Capital for $27 per share or an equity value of $1.973B. The transaction is expected to close during the second half of 2011. Importantly, the deal does not hinge on resolution of any of the outstanding issues currently impacting the company (e.g. FDA, FTC, shareholder lawsuits)." Shares of Immucor were trading at $27.00 at the time of posting, up 30.25% from Friday's market close.