ESV management gave guidance of $50 mln in cost synergies related to the deal. I know most analysts are not very good at second-guessing management, but a lot of them expect the cost synergies to be more like $100 - $150 mln. Several reports I've read point out that ESV management is great at underpromising and overdelivering. That's what you want as oppossed to a team that acts like a bunch of cheerleaders. Let the numbers speak for themselves.
Can ESV stock get even cheaper in a general market correction? Sure. But a year from now barring another recession it will be much higher than these levels.