NEW YORK (TheStreet) -- Shares of AOL (AOL) are declining, lower by 0.04% to $50.50 in mid-morning trading Wednesday, despite being downgraded by analysts at Monness Crespi & Hardt following Verizon Communications' (VZ) acquisition offer.
The firm slashed its rating on AOL to "neutral" from "buy" earlier today.
Similarly, analysts at Cantor Fitzgerald downgraded AOL by two notches to "sell" from "buy" yesterday with a price target of $47.
Both ratings cuts followed Verizon's announced plans to buy the Internet services icon for $50 per share in a $4.4 billion deal.
Cantor said the takeover valuation is "relatively fair" and that a higher bidder is unlikely to emerge.
Also, AOL has held advanced talks to spin off its Huffington Post unit which is valued at more than $1 billion, according to Re/code.
New York City-based AOL is a global media and technology company with a suite of digital brands, products and services.
The company is focused on attracting and engaging consumers by creating and offering digital content, products and services and providing advertising services on both its owned and operated properties and third-party websites.
Insight from TheStreet's Research Team:
Jim Cramer commented on AOL in a recent post on RealMoney.com. Here is a snippet of what Cramer had to say about the stock:
You want to know why this business of picking winning stocks can be so hard? One of the principal reasons may be because people are so darned cynical about anything, even when the positives are downright self-evident.