Avid Bioservices downgraded to Sector Perform from Outperform at RBC Capital

RBC Capital downgraded Avid Bioservices (CDMO) to Sector Perform from Outperform with a price target of $12.50, up from $12, after the company announced an agreement to be acquired by GHO Capital Partners and Ampersand Capital Partners for $12.50 per share. RBC expects the transaction to close at this price.