Baird raised the firm’s price target on Patrick Industries to $105 from $95. The firm noted Patrick has agreed to acquire Sportech LLC, a leading component supplier to the powersports industry. Baird likes the strategic fit as Patrick establishes a wider footprint in the powersports market, building on the acquisitions of Rockford Fosgate, Wet Sounds, and Progressive Group.
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- Patrick Industries, Inc. Signs Definitive Agreement to Acquire Sportech, LLC – a Leading Supplier of Premium Component Solutions to Powersports OEMs
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