Jefferies analyst David Kelley downgraded National Instruments (NATI) to Hold from Buy with a price target of $60, up from $55, after the company entered into an agreement to be acquired by Emerson Electric (EMR) for $60 per share. Emerson’s revised bid of $60 per share in cash reflects National’s longer-term growth prospects and the potential synergies, the analyst tells investors in a research note.
Published first on TheFly
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Read More on NATI:
- Emerson price paid for NATI ‘net negative,’ says JPMorgan
- National Instruments downgraded to Neutral from Positive at Susquehanna
- Emerson went against word by buying NATI, says Deutsche Bank
- National Instruments downgraded to Equal Weight at Morgan Stanley
- Emerson (NYSE:EMR) Acquires National Instruments for $60 a Share
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