Solera to acquire sachcontrol AG Solera Holdings announced that it has signed a definitive agreement to acquire sachcontrol AG, a property claims business based in Dresden, Germany. The acquisition is subject to certain closing conditions and is expected to close in the fourth quarter of Solera's fiscal year ending June 30.
Solera price target lowered to $45 from $58 at Baird Baird lowered its price target on Solera to $45 from $58 but believes the risk/reward and current valuation are attractive. The firm believes a few more quarters of consistent execution/margin expectations may be required to have investor's gain confidence in the company's long-term vision. Baird reiterated its Outperform rating on Solera shares.
Solera downgraded to Neutral from Overweight at Piper Jaffray Piper Jaffray downgraded Solera Holdings to Neutral with a $43 price target citing "disappointing" near-term earnings expectations after the company's FY16 outlook missed estimates.