Costa Group (ASX:CGC), has seen a price target increase of A$3.20/share from A$3.10/share by analysts at Bell Potter, maintaining their ‘hold’ rating on the stock.

This Australian horticulture firm approved a purchase offer by a consortium headed by U.S.

private-equity firm Paine Schwartz Partners last Friday, a deal which evaluates the company at A$1.50 billion ($963.60 million).

Currently, Costa Group (ASX:CGC) shares are up by 0.7%.

The brokerage has highlighted that the offer’s 43% premium compared to the company’s share price after the initial offer in October eliminates the risk of a possible ‘overhang’ if the proposal had been rejected.

Among 10 analysts, four rate the stock as ‘buy’ or higher and six maintain a ‘hold’ stance.

Their median price target stands at A$3.10 based on LSEG data.

Costa Group (ASX:CGC) is an Australian horticulture company.