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Fly News Breaks for December 12, 2016
LIOX
Dec 12, 2016 | 13:56 EDT
Barrington analyst Vincent Colicchio said he is not surprised that Lionbridge Technologies is open to being acquired, given its "lumpy" revenue stream and the substantial need for capital to keep pace with its industry. Colicchio also believes the company may see higher bids, as the $5M break-up fee in the deal with H.I.G. Capital is relatively low and he thinks Lionbridge was approached by a number of private equity investors over the past year. The analyst keeps an Outperform rating and $7 price target on Lionbridge shares.
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