Sterne Agee Comments on Mercury Systems Sale
Mercury Systems is seeking around $500 million and hired Evercore Partners for the sale, according to Reuters report.
In a report published Friday, Sterne Agee analyst Peter Arment commented that a strategic company is likely to pay in the mid-teens EBITDA for Mercury systems. Mercury is trading at over 18x FY15E EV/ EBITDA at current prices, which implies a takeout range of between $15.00 and $19.00 per share.
Mercury Systems closed at $13.80 on Friday, up over 3.06 percent.
Latest Ratings for BA
|Mar 2017||Morgan Stanley||Downgrades||Overweight||Equal-Weight|
|Jan 2017||RBC Capital||Initiates Coverage On||Underperform|
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.