UPDATE: Jefferies Downgrades Power One to Hold Following Acquisition Announcement

In a report published Tuesday, Jefferies analyst Scott Reynolds downgraded the rating on Power One (NASDAQ: PWER ) from Buy to Hold, and raised the price target from $5.00 to $6.35. In the report, Reynolds noted, “Following ABB's acquisition announcement for PWER of $6.35/share, we are downgrading to Hold from