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Fly News Breaks for February 6, 2020
A, TWST
Feb 6, 2020 | 13:51 EDT
Cowen analyst Doug Schenkel says he has learned from his legal consultants that the MSJ Hearing which was scheduled for Friday was canceled, no tentative ruling will be issued and, perhaps most importantly, the court vacated the scheduled trial. These developments in the Agilent (A)-Twist (TWST) dispute are consistent with what one might expect if a settlement were imminent. An announcement could be coming soon, he adds, noting that absent a settlement, timelines will now slip further. Clearly details on terms would matter, but Schenkel views a settlement as a likely clearing event for additional investment in Twist. The analyst has an Outperform rating on Twist's shares.
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