Cadre price target lowered to $28 from $30 at Lake Street

Lake Street lowered the firm’s price target on Cadre to $28 from $30 and keeps a Buy rating on the shares. The company reported "solid" Q4 results and gave 2023 full-year revenue guidance that was in line with the firm’s expectation. While the firm thinks the company’s adjusted EBITDA guidance of $76-$82M "may prove conservative," it lowered its estimates to match the guidance.