Analysts Shift Gears On New Relic Post-Acquisition: From Outperform To Neutral Ratings And Revised Price Targets
Portfolio Pulse from Lekha Gupta
New Relic Inc (NEWR) has been acquired by Francisco Partners and TPG Inc (TPG) in a deal valued at approximately $6.5 billion. Following the acquisition, several analysts have downgraded NEWR's rating from Outperform to Neutral and revised their price targets. NEWR shares are currently trading at $84.04, slightly higher by 0.07%.
August 04, 2023 | 9:59 am
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POSITIVE IMPACT
TPG Inc, along with Francisco Partners, has acquired New Relic Inc.
TPG Inc's acquisition of New Relic, in partnership with Francisco Partners, could potentially enhance its portfolio and market presence. However, the direct impact on TPG's stock is not clear from the news.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 50
NEUTRAL IMPACT
New Relic's acquisition has led to a downgrade in ratings and revised price targets by analysts.
The acquisition of New Relic by Francisco Partners and TPG has led to mixed reactions from analysts. While some have downgraded the company's rating from Outperform to Neutral, others have revised their price targets. This could lead to uncertainty among investors, potentially impacting the stock's short-term performance.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100