Lake Street analyst Jacob Stephan downgraded MoneyLion (ML) to Hold from Buy with a price target of $82, down from $109, after the company announced it was being acquired by Gen Digital (GEN) for $82 per share in cash with a contingent value right of $23 payable in Gen common stock. While “surprised” by the announcement, the firm believes the strategic positioning and combination of Gen’s portfolio of well-known digital security solutions is “attractive,” the analyst tells investors.
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Read More on ML:
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
