Craig-Hallum raised the firm’s price target on Transcat to $112 from $103 and keeps a Buy rating on the shares. Last month, Transcat announced the acquisition of Axiom Test and Equipment, a leading provider of electronic test equipment rentals. Strategically, this increases exposure to the higher margin rental space and financially is attractive given solid accretion levels, the firm says. Importantly, Craig-Hallum believes it was acquired at a very reasonable purchase price, which again highlights the attractive opportunity with M&A. The firm is raising estimates and price target to account for the acquisition.
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Read More on TRNS:
- Transcat files to sell 272K shares of common stock for holders
- Transcat price target raised to $106 from $102 at H.C. Wainwright
- Transcat files to sell 39K shares of common stock for holders
- Transcat reports Q1 adjusted EPS 52c, consensus 27c
- Transcat (TRNS) Q1 Earnings Cheat Sheet
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