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DST

DST Systems

$83.92

4.03 (5.04%)

, SSNC

SS&C

$50.34

2.65 (5.56%)

09:08
01/12/18
01/12
09:08
01/12/18
09:08

DST Systems downgraded to Neutral at DA Davidson on SS&C deal

As noted earlier, DA Davidson analyst Peter Heckmann downgraded DST Systems (DST) to Neutral from Buy and raised his price target to $84 from $72. Heckmann cites the company's acquisition by SS&C (SSNC) at $84 per share and believes that shareholder got a good outcome in the deal, estimating the probability of a competitive bid to be "quite low".

DST

DST Systems

$83.92

4.03 (5.04%)

SSNC

SS&C

$50.34

2.65 (5.56%)

DST DST Systems
$83.92

4.03 (5.04%)

01/11/18
JPMS
01/11/18
NO CHANGE
Target $49
JPMS
Neutral
SS&C acquisition of DST could be 'incredibly accretive,' says JPMorgan
Depending on the amount of debt, the interest rate, and the cost synergies, SS&C Technologies' (SSNC) potential acquisition of DST Systems (DST) could be "incredibly accretive," JPMorgan analyst Sterling Auty tells investors in a research note. He believes the deal could generate $20 per share of incremental value or more to SS&C's unaffected stock price of $42. On top of that there could be as much as $7 per share or more of value from tax reform benefits, Auty adds. He says he'd be a buyer of SS&C shares if a deal is announced with "reasonable terms." Without a deal, however, there is not enough upside to warrant an Overweight stance, Auty notes. As such, he keeps a Neutral rating on SS&C at this time.
01/11/18
JPMS
01/11/18
UPGRADE
Target $60
JPMS
Overweight
JPMorgan upgrades SS&C to Overweight on DST deal
JPMorgan analyst Sterling Auty upgraded SS&C Technologies (SSNC) to Overweight from Neutral and raised his price target for the shares to $60 from $49 following the company's acquisition of DST Systems (DST). The analyst sees opportunity for SS&C "above and beyond" the stated cost synergies that could create incremental value. He believes the upside potential from the deal warrant and upgrade to Overweight. The stock in premarket trading is up $2.29, or 5%, to $47.69.
01/12/18
JEFF
01/12/18
NO CHANGE
Target $58
JEFF
Buy
SS&C price target raised to $58 from $47 at Jefferies
Jefferies analyst John DiFucci raised his price target for SS&C Technologies (SSNC) following the company's acquisition of DST Systems (DST). The deal makes strategic and financial sense and the price paid is reasonable, DiFucci tells investors in a research note. He believes the $150M guided cost synergies is "prudently conservative" and that the deal is "meaningfully accretive." The analyst maintains a Buy rating on SS&C.
01/12/18
DADA
01/12/18
DOWNGRADE
DADA
Neutral
DST Systems downgraded to Neutral from Buy at DA Davidson
SSNC SS&C
$50.34

2.65 (5.56%)

01/12/18
DADA
01/12/18
NO CHANGE
Target $54
DADA
Buy
SS&C price target raised to $54 from $44 at DA Davidson
DA Davidson analyst Peter Heckmann raised his price target on SS&C to $54 after its decision to acquire DST systems, saying the purchase is a good fit that will allow SS&C to "expand its operations in the domestic retirement plan, wealth management, and mutual fund markets." The analyst keeps his Buy rating, adding that while the deal size of $5.4B will require significant leverage, it will also drive "attractive accretion to earnings forecasts".
01/12/18
NEED
01/12/18
NO CHANGE
Target $60
NEED
Buy
SS&C price target raised to $60 from $44 at Needham
Needham analyst Mayank Tandon raised his price target on SS&C to $60 and kept his Buy rating after the company disclosed the acquisition of DST Systems for $5.4B. Tandon estimates that SS&C can generate up to $3 in incremental EPS in FY19 from the deal, adding that his price target revision also reflects solid growth in the company's core business as well as the benefits of the U.S. corporate tax reforms.
01/12/18
RBCM
01/12/18
NO CHANGE
Target $60
RBCM
Outperform
SS&C price target raised to $60 from $48 at RBC Capital
RBC Capital analyst Daniel Perlin raised his price target on SS&C to $60 after the acquisition of DST, saying the deal offers "meaningful synergies" as well as earnings accretion "from day one" and mid-teens accretion to FY19 earnings consensus. The analyst keeps his Outperform rating on SS&C.

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