Kadant elevated to ‘Best-of-Breed Bison’ at DA Davidson

DA Davidson elevated Kadant to the firm’s ‘Best-of-Breed Bison’ list while maintaining a Neutral rating and $225 price target. The company stands out within the analyst’s coverage among businesses with enduring, strong competitive positions, and compelling financials, the firm tells investors in a research note. DA Davidson adds however that the stock’s premium valuation and its concern around how recent capital equipment booking trends could weigh on near-term growth leave the risk/reward on the shares as “balanced”.