Transcat initiated with an Outperform at Oppenheimer

Oppenheimer initiated coverage of Transcat with an Outperform rating and $110 price target. Transcat is one of the largest instrument calibration and services companies in the U.S., the analyst tells investors in a research note. The firm sees the company as an “underappreciated gem with a strong moat.” The company has proven history of delivering sustainable revenue growth with superior return on capital, and has ample room for long-term growth and margin expansion, contends Oppenheimer.