BofA analyst Joanna Gajuk is moving to No Rating on Surgery Partners (SGRY) after Bain Capital made a non-binding proposal to buy the 61% stake it does not own for $25.75 per share. While it is unclear whether a transaction will be completed, the offer could create a floor to the stock valuation and shares are no longer trading on fundamentals, the analyst tells investors.
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Read More on SGRY:
- Surgery Partners says committee to review $25.75 per share buyout proposal
- Surgery Partners confirms $25.75 per share buyout offer from Bain Capital
- Surgery Partners price target lowered to $28 from $35 at Mizuho
- Surgery Partners reinstated with a Buy at BofA
- Surgery Partners price target lowered to $28 from $38 at JPMorgan