BofA analyst Koji Ikeda is moving to No Rating on Enfusion (ENFN) after it was announced that the investment management vertical software vendor is being acquired by Clearwater Analytics (CWAN) for $1.5B in a mix of cash and stock. Given Enfusion’s current growth and profitability profile, the firm believes the acquisition price is “reasonable,” adding that it believes shares are no longer trading on fundamentals due to the proposed acquisition.
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Read More on ENFN:
- Clearwater-Enfusion merger makes sense strategically, says Oppenheimer
- Enfusion downgraded to Market Perform from Outperform at William Blair
- J&J to acquire Intra-Cellular, Clearwater to buy Enfusion: Morning Buzz
- Enfusion downgraded to Hold from Buy at Stifel
- Enfusion to Merge with Clearwater Analytics Holdings
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