The Globe and Mail reports in its Friday, Jan. 26, edition that Eight Capital analyst Christian Sgro has moved his recommendation for MediaValet to "tender" from "buy." The Globe's David Leeder writes in the Eye On Equities column that Mr. Sgro moved his share target to $1.71 from $2.50. Analysts on average target the shares at $1.73. Mr. Sgro sees a high probability for its definitive agreement to be acquired by an affiliate of U.S. private equity firm Symphony Technology Group to close as announced. Before the bell on Wednesday, the Toronto-based digital asset management firm announced the deal for $1.71 per share, which represents a 30-per-cent premium to its previous closing price. Mr. Sgro says in a note: "Considering the $80-million transaction value, we calculate a 3.8 times 2024 estimated revenue takeout multiple that we think is reasonable in this environment. In our coverage, Canadian SaaS peer Q4 was recently announced to be acquired for 2.5 times. Larger high-quality North American SaaS companies trade around four to five times; MediaValet's acquisition price is reasonable if not attractive to us. ... MediaValet was previously managing overhead prudently to achieve cash flow breakeven."