Cadre price target lowered to $37 from $39 at Roth MKM

Roth MKM lowered the firm’s price target on Cadre (CDRE) to $37 from $39 but keeps a Buy rating on the shares. The company’s Q3 results were surprisingly soft as Cadre apparently experienced a follow-on cyber attack in September that further hurt sales, the analyst tells investors in a research note. Roth adds however that it remains constructive on Cadre given the steady demand backdrop, improving margins, and a healthy balance sheet that should enable further accretive M&A.