Truist downgraded Focus Financial to Hold from Buy with a price target of $53, up from $50. The analyst sees limited upside from current levels based on the non-binding $53 per share takeover offer from Clayton, Dubilier & Rice. Improved market conditions should continue to support Focus Financial’s revenue, the analyst tells investors in a research note. The firm has confidence in its forecast of double-digit revenue growth in 2023 and 2024.
Published first on TheFly
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