Cadre price target raised to $40 from $36 at Stephens

Stephens raised the firm’s price target on Cadre to $40 from $36 and keeps an Overweight rating on the shares. The company remains attractively positioned as its end-markets remain supportive and marketing & acquisition appears to be set to accelerate in 2024, the analyst tells investors. Police safety budgets have been more resilient than feared and Cadre’s leading market share within key categories have helped it grow with the market, the firm adds. The company will continue to drive EBITDA margin expansion and is well positioned to utilize its balance sheet and augment growth through acquisitions in 2024, the firm says.