Avid Bioservices downgraded to Equal Weight from Overweight at Stephens

Stephens downgraded Avid Bioservices (CDMO) to Equal Weight from Overweight with a price target of $12.50, up from $12, after Avid filed its merger proxy associated with GHO/Ampersand’s proposed acquisition. It seems like this deal is likely to go through as proposed, the analyst tells investors.