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Evercore Expects No Other Competing Bids For Keynote

Related KEYN
Levi & Korsinsky Announces Investigation into Possible Breaches of Fiduciary Duty by the Board of Keynote Systems, Inc. in Connection with the Sale of the Company to Thoma Bravo
SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims on Behalf of Investors of Keynote Systems, Inc. - KEYN

Monday, Keynote Systems (NASDAQ: KEYN) announced that it was to be acquired by Thorma Bravo for $20 per share, valuing the company at $395 million. Analysts at Evercore weighed in Tuesday and said that it was "unlikely" that competing bids for the stock would come in at the takeover price.

Analyst Matthew Williams said in a note Tuesday that the deal valuation was "reasonable" given the net-cash balance and the value of the real estate assets of the company. He raised his price target to $20 on the news, the takeover price, but maintained the equalweight rating on the stock.

Shares climbed 47 percent Monday on the takeover offer but traded slightly lower Tuesday at $19.79, down $0.03.

Latest Ratings for KEYN

Jun 2013B. RileyDowngradesBuyNeutral
Jun 2013Craig-HallumDowngradesBuyHold
Jun 2013Noble FinancialDowngradesBuyHold

View More Analyst Ratings for KEYN
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Posted-In: EvercoreAnalyst Color Price Target Analyst Ratings


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