Craig-Hallum analyst Greg Palm raised the firm’s price target on Transcat to $92 from $81 and keeps a Buy rating on the shares after the company reported strong quarterly results, with upside to both revenue and earnings. The results reinforce the firm’s view that Transcat can perform well in any kind of macro environment and views the stock as a long-term compounder that will reward investors over time. M&A represents a potential catalyst for the stock given a strong internal pipeline but Craig-Hallum reminds investors that no acquisition contribution is built into its estimates, even though the firm believes M&A is highly likely.
Published first on TheFly
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