The Globe and Mail reports in its Friday, April 10, edition that Raymond James analyst Frederic Bastien lowered his rating for Blackline Safety to "market perform" from "outperform" in response to its agreement to be taken private by private equity firm Francisco Partners for $9 per share in cash, in a deal valued at up to $850-million, which he called "compelling given the highly uncertain macro environment." The Globe's David Leeder writes in the Eye On Equities column that Mr. Bastien gave his share target a 62-cent trim to $9.38. Analysts on average target the shares at $9.48. Mr. Bastien says in a note: "We expect the deal to close. While our long-term DCF analysis implies an intrinsic value of $10, we see the current offer (2027E EV/EBITDA of 27-28 times) as attractive amid a volatile market, driving investor support alongside the rollover shareholders. We also see limited risk of a competing bid as key peers such as MSA, Drager and Honeywell remain focused on their own connected device strategies or entirely different product lines. In addition, the company's targeted sales process did not identify any alternative buyers." Mr. Bastien notes that Blackline insiders are already supporting the deal.