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WAGE

WageWorks

$50.03

0.22 (0.44%)

, HQY

HealthEquity

$70.21

-1.02 (-1.43%)

06:19
05/07/19
05/07
06:19
05/07/19
06:19

Wells Fargo downgrades WageWorks amid review of HealthEquity bid

Wells Fargo analyst Jamie Stockton downgraded WageWorks (WAGE) to Market Perform from Outperform while raising his price target for the shares to $50 from $45. The stock is now 1% below the $50.50 all-cash offer that HealthEquity (HQY) announced on April 30 and WageWorks indicated it was evaluating, Stockton tells investors in a research note. The analyst believes HealthEquity could be willing to go higher but also finds it possible that the company believes WageWorks' growth prospects are not compelling enough to pay a higher amount. Further, WageWorks could decide to continue to pursue a turnaround, says Stockton, who sees the shares trading down to $43 if the company walks away from the deal. The analyst prefers to move to the sidelines at this point.

WAGE

WageWorks

$50.03

0.22 (0.44%)

HQY

HealthEquity

$70.21

-1.02 (-1.43%)

  • 05

    Jun

WAGE WageWorks
$50.03

0.22 (0.44%)

04/30/19
CANT
04/30/19
NO CHANGE
CANT
HealthEquity can probably offer $50-$55 per share for WageWorks, says Cantor
Cantor Fitzgerald analyst Steven Halper says HealthEquity (HQY) can probably offer around $50-$55 per share for WageWorks (WAGE) and have the transaction be about neutral to its adjusted earnings in fiscal 2020. HealthEquity confirmed this morning that it has made a proposal to acquire all of the outstanding shares of WageWorks for $50.50 per share in cash. The analyst believes the strategic fit is attractive, saying WageWorks would expand the range of HealthEquity's offerings to employers and health plans. He reiterates his Overweight rating on the latter with a $90 price target.
05/01/19
JMPS
05/01/19
NO CHANGE
Target $60
JMPS
Outperform
WageWorks price target raised to $60 from $43 at JMP Securities
JMP Securities analyst David Scharf raised his price target on WageWorks (WAGE) to $60 from $43 following the $50.50 per share takeover bid made by HealthEquity (HQY), stating that the disclosure of the offer puts WageWorks "in play" as an acquisition target for both strategic and financial buyers. He believes two potential strategic buyers, HealthEquity and Ceridian (CDAY), can use their high-multiple stocks as acquisition currency and wonders if financial buyers will also enter the bidding, Scharf tells investors. He maintains an Outperform rating on WageWorks shares.
05/01/19
RHCO
05/01/19
NO CHANGE
Target $57
RHCO
Buy
WageWorks price target raised to $57 from $50 at SunTrust
SunTrust analyst Tobey Sommer raised his price target on WageWorks (WAGE) to $57 and kept his Buy rating after HealthEquity (HQY) confirmed recent press speculation that it made a proposal to acquire the company. The analyst believes that WageWorks has not initiated a sale process yet, and other strategic or private equity bidders could emerge.
05/07/19
WELS
05/07/19
DOWNGRADE
WELS
Market Perform
WageWorks downgraded to Market Perform from Outperform at Wells Fargo
HQY HealthEquity
$70.21

-1.02 (-1.43%)

04/30/19
CANT
04/30/19
NO CHANGE
Target $90
CANT
Overweight
HealthEquity deal for WageWorks would be 'logical move,' says Cantor Fitzgerald
WageWorks (WAGE) would be a good strategic fit for HealthEquity (HQY), as the potential acquisition would provide a broader set of offerings for the combined company, Cantor Fitzgerald analyst Steven Halper tells investors in a research note. The analyst believes the acquisition would be a "logical move" for HealthEquity and notes that the company's CEO Jon Kessler founded WageWorks in 2000 and joined HealthEquity in 2009 as CEO. Halper reiterates an Overweight rating on HealthEquity with a $90 price target.

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Legg Mason

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DSX

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XEL

Xcel Energy

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PPC

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SAFM

Sanderson Farms

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CAH

Cardinal Health

$46.90

0.91 (1.98%)

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HMN

Horace Mann

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OSTK

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AMBA

Ambarella

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Tocagen

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EKSO

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SPX

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EXPE

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