Fly News Breaks for December 18, 2019
JCOM, RNG, AKAM, LOGM
Dec 18, 2019 | 06:04 EDT
Piper Jaffray analyst James Fish downgraded LogMeln (LOGM) to Neutral from Overweight with a price target of $86.05, up from $86. The analyst views the acquisition takeout as more "fair value" than the typical "premium" that acquisitions get, but he sees a low probability of an over-the-top bid given a lack of logical strategic buyers. He encourages investors to roll the investment into either Akamai (AKAM), RingCentral (RNG) or j2 Global (JCOM).
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