SOLY - With Abbvie acquisition Cantor downgrades Soliton to neutral

Given an Abbvie (ABBV) subsidiary's recent announcement it would acquire Soliton (SOLY) and following the company's solid Q1 results, Cantor Fitzgerald is downgrading the stock to neutral.Analyst Louise Chen is also lowering her price target to $22.60 from $25, implying a ~1% increase. That's the price Allergan Aesthetics said it would acquire Soliton for.Chan said she she doesn't see any other potential bidders.She added that Soliton's Q1 EPS was in-line with both Cantor's and the consensus estimate.Soliton shares are down 0.4% to $22.30 in afternoon trading.

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With Abbvie acquisition, Cantor downgrades Soliton to neutral