Vector Group Agrees To $2.4B Buyout By JT Group: Details
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Aug 21 2024
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Source: Benzinga
Acquisition Announcement: Vector Group Ltd. is set to be acquired by Japan's JT Group for approximately $2.4 billion, with a cash offer of $15.00 per share, representing a 29.9% premium over its recent share price.
Financial Performance: The company reported better-than-expected second-quarter earnings, with adjusted EPS of $0.34 and sales of $371.914 million, exceeding market expectations.
Analyst Views on PSCC
Wall Street analysts forecast PSCC stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for PSCC is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
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Current: 32.991
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
