Cadre price target raised to $31 from $29 at Stephens

Stephens analyst Daniel Imbro raised the firm’s price target on Cadre to $31 from $29 and keeps an Overweight rating on the shares. The company beat adjusted EBITDA expectations and raised its adjusted EBITDA guidance, which was largely due to stronger margin expansion that anticipated, the analyst tells investors. The company’s differentiated products are driving recent business wins and its international business is growing well, the firm says. Management is poised to complete its targeted acquisition in H2 of 2023 if the market improves and is set to deliver another year of organic EBITDA growth in 2024, Stephens says.