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GIMO

Taken Private by Elliott

$40.93

-2.625 (-6.03%)

14:41
10/06/17
10/06
14:41
10/06/17
14:41

Gigamon downgraded to Market Perform from Outperform at JMP Securities

  • 06

    Oct

  • 18

    Oct

  • 19

    Oct

  • 07

    Dec

GIMO Taken Private by Elliott
$40.93

-2.625 (-6.03%)

09/12/17
NEED
09/12/17
NO CHANGE
NEED
Gigamon outlook positive, shares could reach $55-$60, says Needham
After media outlets reported that Elliott Management's private equity arm had submitted a bid to acquire Gigamon (GIMO), Needham analyst Alex Henderson believes that there are "three likely outcomes" to the situation: Gigamon will be acquired by private equity firms for $50+; Gigamon becomes a takeover target for strategic players such as F5 (FFIV), Oracle (ORCL), HP (HPE), and Juniper (JNPR);, or the company reports strong Q3 and Q4 results and the stock rallies. The analyst says that the stock could reach $55-$60 if a bidding war materializes. He reiterates a $50 price target and a Buy rating on the shares.
09/12/17
JMPS
09/12/17
NO CHANGE
Target $47
JMPS
Outperform
Gigamon acquisition price of $47 'easily justifiable,' says JMP Securities
JMP Securities analyst Erik Suppiger noted that Reuters reported that Elliott Management's private equity arm has made a formal bid to purchase Gigamon, in which the activist investor already holds a roughly 15% stake. Elliott's bid is assumed to be meant to force Gigamon management to initiate a formal sale process or give Elliott an attractive asset at a depressed price, said Suppiger, who sees $47 as an "easily justifiable acquisition price" for the company. He keeps an Outperform rating and $47 price target on Gigamon shares.
07/31/17
DOTC
07/31/17
UPGRADE
DOTC
Buy
Gigamon upgraded to Buy from Neutral at Dougherty
07/28/17
NEED
07/28/17
NO CHANGE
Target $50
NEED
Strong Buy
Gigamon recovering and remains possible target, says Needham
Needham analyst Alex Henderson believes Gigamon is "showing clear signs of a sustained recovery" following its Q2 results. He reiterates a Buy rating on the shares with a $50 price target. If the company does not deliver, activist Elliott will likely force the board's hand and into a takeover, Henderson tells investors in a post-earnings research note. He thinks a single bidder could result in $50-$55 per share buyout price whereas a multi-bidder process could result in a $60-plus valuation.

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