Transcat price target raised to $94 from $80 at Roth Capital

Roth Capital analyst Gerry Sweeney raised the firm’s price target on Transcat to $94 from $80 and keeps a Buy rating on the shares after it Q3 earnings beat. The company’s outperformance was driven by strong Service and Distribution revenue, and its core verticals – A&D and life sciences, among others – remain strong, the analyst tells investors in a research note. The firm adds that Transcat’s acquired Nexa assets should remain a strong contributor to cross-selling and new wins.