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CRAY

Cray

$35.18

-0.18 (-0.51%)

, HPE

HP Enterprise

$14.33

-0.21 (-1.44%)

07:29
05/24/19
05/24
07:29
05/24/19
07:29

Cray downgraded to Sector Weight from Overweight at KeyBanc

As previously reported, KeyBanc analyst Alex Kurtz downgraded Cray (CRAY) to Sector Weight from Overweight after its announced takeover by HP Enterprise (HPE). In a research note to investors, Kurtz says he believes there has been "ample" time for a second bid to have emerged since the deal announced last Friday and no longer views another bid emerging as likely.

CRAY

Cray

$35.18

-0.18 (-0.51%)

HPE

HP Enterprise

$14.33

-0.21 (-1.44%)

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CRAY Cray
$35.18

-0.18 (-0.51%)

05/17/19
CHLM
05/17/19
DOWNGRADE
CHLM
Hold
Craig-Hallum downgrades Cray to Hold, but says bidding war possible
Craig-Hallum analyst Chad Bennett downgrade Cray (CRAY) to Hold from Buy after the company announced a deal to be acquired by HP Enterprise (HPE) for $35 per share, but he added that he thinks a bidding war is possible since he doesn't believe the stock buyout price "has even begun to value" Cray's proprietary interconnect technology and its modular software stack for next generation AI/ML workloads. He believes there could be a number of interested parties in Cray including Microsoft (MSFT), Dell (DELL), Intel (INTC), Google (GOOG), Amazon (AMZN) and potentially IBM (IBM).
05/17/19
WELS
05/17/19
DOWNGRADE
WELS
Market Perform
Cray downgraded to Market Perform from Outperform at Wells Fargo
Wells Fargo downgraded Cray (CRAY) to Market Perform from Outperform with an unchanged price target of $35 after the company reached a deal to be acquired by HP Enterprise (HPE). The firm, however, expects some investors to question why Cray shouldn't be able to command a higher premium than $35 per share given the recovery in the high-end supercomputing market.
05/20/19
CHLM
05/20/19
DOWNGRADE
Target $35
CHLM
Hold
Cray downgraded to Hold from Buy at Craig-Hallum
Craig-Hallum analyst Chad Bennett downgraded Cray (CRAY) to Hold from Buy and lowered his price target on the shares to $35 from $36 after HP Enterprise (HPE) announced that it has entered into an agreement to purchase the company for $35.00 per share in cash, totaling $1.3B net of cash. The analyst believes the possibility of another buyer coming in over the top is fairly low, but notes that the price is "too low" based on the opportunities Cray has in front of it over the next few years. Furthermore, Bennett believes there would be a number of interested parties in Cray including Microsoft (MSFT), Dell (DELL), Intel (INTC), Alphabet (GOOG), Amazon (AMZN), and potentially IBM (IBM).
05/23/19
KEYB
05/23/19
DOWNGRADE
KEYB
Sector Weight
Cray downgraded to Sector Weight from Overweight at KeyBanc
KeyBank analyst Alex Kurtz downgraded Cray (CRAY) to Sector Weight from Overweight after its announced takeover by HP Enterprise (HPE).
HPE HP Enterprise
$14.33

-0.21 (-1.44%)

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SIX

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SRNE

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VTR

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USCR

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FCAU

Fiat Chrysler

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NCMI

National CineMedia

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MDB

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AXTA

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NBRV

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ADBE

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SRNE

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NTEC

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KMPH

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MCRB

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CUB

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