Smartsheet downgraded to Market Perform from Outperform at BMO Capital

BMO Capital analyst Keith Bachman downgraded Smartsheet to Market Perform from Outperform with a price target of $56.50, down from $59, after the company announced an agreement to be acquired by Blackstone and Vista in an all-cash transaction valued at $8.4B. “While we don’t think the purchase price is aggressive, we nevertheless think another bid is unlikely,” the analyst tells investors in a research note.