Market Overview

Wells Fargo Analyst Says Sourcefire Unlikely to See Bidding War

Wells Fargo analyst Gray Powell came out with a report Wednesday morning on Source Fire (NASDAQ: FIRE) this morning commenting on Cisco's (NASDAQ: CSCO) $76 per share bid on the company.

In the report, Powell stated that the large premium in Cisco's offer was likely to discourage other firms from coming in with counter offers, while the lack of anti-trust concerns is also seen as a plus for the transaction going forward.

In the report, Powell cut his rating on the company to Perform from an Outperform rating.

Following the report, shares traded roughly flat, gaining 0.13 percent to $75.59 midway through trading Wednesday.

Posted-In: Wells FargoAnalyst Color Analyst Ratings Movers Tech

 

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