UPDATE: Goldman Sachs Raises PT to $15.50 on Duff & Phelps on Improving Outlook
Goldman Sachs reiterated its Neutral rating on Duff & Phelps (NYSE: DUF) and increased its price target
Goldman Sachs noted, "On December 31, Carlyle Group and a consortium of investors announced intentions to take DUF private at $15.55 per share in an all-cash deal. Given this and other M&A activity in the space, we raise our 12-month target to $15.50 from $14, as we increase our M&A rank to 1 from 4 within our departmental framework, indicating our view of a high likelihood of a transaction. In our price target methodology, we now place a 50% weighting on our theoretical M&A value of $16, based on a 15x NTM P/E multiple, consistent with precedent transactions in the space."
Duff & Phelps closed at $15.62 on Monday.
Latest Ratings for DUF
|Apr 2013||Keefe Bruyette & Woods||Suspends||Market Perform|
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