Merger And AcquisitionWith HCP trading at just over a 3% discount to the $35/share take out offer from IBM, analyst maintains a Neutral rating on the stock.
Regulatory ConcernsAcknowledging FTC issued a second request for information, we see little likelihood of another bidder or deal failing.
Stock ValuationHashiCorp is fairly valued with a discount to the median peer group multiple, which is warranted due to the current merger agreement and the company's relatively lower growth rate.