Jefferies & Co. is out with a research report on Tekelec TKLC and it is raising its price target to $11 from $7, and it has a Hold rating on shares.
In a note to clients, Jefferies & Co. writes, "Tekelec announced today that it will be required by a consortium of private equity buyers for $11/share in cash. We believe this is a reasonably good outcome for current Tekelec shareholders, particularly in light of our concerns about the trajectory of the very large legacy Signaling business."
Shares of TKLC closed at $11.29 yesterday.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in