J.P. Morgan Downgrades Blackboard To Neutral

According to J.P. Morgan, Blackboard (NASDAQ: BBBB) is downgraded to Neutral.

J.P. Morgan said that Blackboard is trading at 44.17, or 1.8% from the Providence Equity takeover offer of $45 per share. “We do not expect a competing higher bid so we are downgrading to Neutral from Overweight and adjusting our price target to $45.”

Blackboard closed on Friday at $44.17.