Verisk set to start week in red after Delaware ruling on AccuLynx deal
BUZZ-Verisk set to start week in red after Delaware ruling on AccuLynx deal ** Shares of data analytics firm Verisk VRSK.O fall 4.5% to $183.23 premarket
** A Delaware judge on Friday ordered VRSK to try completing its planned $2.35 billion acquisition of roofing software maker AccuLynx, more than seven months after Verisk pulled the plug on deal
** Some analysts previously said the AccuLynx deal had met with some skepticism from investors
** "We expect VRSK to appeal and seek a stay on its performance to restart the regulatory process. However, this is a negative for VRSK given it has strategically moved on from the deal and introduces the potential to need to move forward with an expensive acquisition," Evercore analyst David Motemaden said
** 11 of 20 brokerages rate the stock "buy" or higher and 9 "hold"; median PT $235 - data compiled by LSEG
** As of last close, VRSK stock down 14.2% YTD
(Reporting by Arasu Kannagi Basil in Bengaluru)
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Brief: Verisk Evaluating Options Including Possible Appeal After Delaware Court Decision On AccuLynx Deal