Lake Street analyst Jaeson Schmidt raised the firm’s price target on UFP Technologies to $392 from $344 and keeps a Buy rating on the shares after the company announced it was acquiring Welch Fluorocarbon, a thermoformed and heat-sealed implantable medical device components manufacturer, and Medical Marble, an adhesive manufacturer, for a combined $39.1M in cash with the potential for $6.5M in earnouts. The firm was “pleasantly surprised to see not one, but two, acquisitions completed so soon” after the AJR Enterprises purchase and continues to like the setup for shares, the analyst tells investors.
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