Roth Capital analyst Matt Koranda lowered the firm's price target on Cadre to $40 from $45 and keeps a Buy rating on the shares. The company's Q1 results were sound, with in-line sales and adjusted EBITDA ahead of relatively low expectations, the analyst tells investors in a research note. The TYR acquisition and blast monitoring sensor ramp-up support the heavier second-half ahead, but with a generally risk-averse investor mood and near-term fundamental choppiness, this may partially explain some of the weakness in the stock, the firm added.
