Cadre price target raised to $43 from $38 at Roth MKM

Roth MKM raised the firm’s price target on Cadre to $43 from $38 and keeps a Buy rating on the shares. The company delivered a sound Q4, with upside to sales driven by healthy growth in the Distribution segment, though its profit flow-through was a touch light with sales mix skewed toward lower-margin Distribution segment, leading to a “slight beat” on adjusted EBITDA, the analyst tells investors in a research note. Cadre’s 2024 outlook looks “healthy but beatable”, the firm added.