Cadre price target lowered to $29 from $35 at BofA

BofA analyst Ronald Epstein lowered the firm’s price target on Cadre to $29 from $35 and keeps a Buy rating on the shares after updating the firm’s model post the company’s Q4 report. While the current M&A backdrop could present near term challenges to the company’s acquisitive plans, BofA sees Cadre having "an unparalleled opportunity to consolidate fragmented markets across geographies and to expand into other safety-related markets" and thinks patient investors "will likely ultimately be rewarded."