UPDATE: JP Morgan Downgrades Quest Software to Neutral Post Acquisition from Dell
JP Morgan notes, "Dell (DELL, $12.39, rated Overweight by J.P. Morgan IT Hardware analyst Mark Moskowitz) announced today that it has entered a definitive agreement to acquire QSFT for $28 per share in cash. We believe the acquisition makes both strategic and financial sense for Dell in addition to offering QSFT shareholders reasonable value for their shares. This offer is at the high end of our estimated intrinsic value range of $26 to $28 of the maintenance revenue stream alone."
QSFT closed at $27.82 on Monday.
Latest Ratings for QSFT
|Oct 2012||Jefferies & Company||Drops Coverage on|
|Jul 2012||JP Morgan||Downgrades||Overweight||Neutral|
|Mar 2012||Wunderlich Securities||Maintains||Hold|
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