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Piper Jaffray reduced its rating on Kenexa
KNXA from Overweight to Neutral with a $46 price target.
Piper Jaffray noted, "We are downgrading our rating on KNXA shares to Neutral from Overweight. As a reminder, on August 27 IBM announced it will acquire Kenexa for $46 per share, or a net price of $1.3B."
Kenexa closed at $45.94 on Monday.
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