Cadre price target raised to $38 from $32 at Roth MKM

Roth MKM raised the firm’s price target on Cadre to $38 from $32 and keeps a Buy rating on the shares after the company announced a definitive agreement to acquire Alpha Safety for $107M. Alpha looks in line with the management’s stated strategy of finding an acquisition in a new vertical beyond military and law enforcement channels, providing another platform for Cadre, the analyst tells investors in a research note.