DA Davidson upgraded Clearwater Analytics (CWAN) to Buy from Neutral with a price target of $32, down from $35. The company’s proposed merger with Enfusion (ENFN) is “very strategic” and likely to advance Clearwater’s technology road map by several years, the analyst tells investors in a research note. The recent decline in Clearwater shares has also created a more attractive risk/reward profile, though the firm is lowering its price target to reflect higher risks related to the deal, DA Davidson added.
Stay Ahead of the Market:
- Discover outperforming stocks and invest smarter with Top Smart Score Stocks
- Filter, analyze, and streamline your search for investment opportunities using Tipranks' Stock Screener
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CWAN:
- Clearwater Analytics upgraded to Buy from Neutral at DA Davidson
- Enfusion downgraded to Equal Weight from Overweight at Morgan Stanley
- BofA moves to No Rating on Enfusion after Clearwater Analytics deal
- Clearwater-Enfusion merger makes sense strategically, says Oppenheimer
- J&J to acquire Intra-Cellular, Clearwater to buy Enfusion: Morning Buzz