Khanchit Khirisutchalual
Safety and survivability equipment manufacturer Cadre Holdings (NYSE:CDRE) was downgraded at Raymond James over increased organic growth expectations.
The stock declined by ~5.35% Monday pre-market.
The ratings agency downgraded CDRE to Market Perform 3, citing that the stock has surpassed its price target and the consensus model sets "an organic growth bogey that optimistically leans on continued pricing power and/or volumes".
The agency says the company has a lack of organic catalysts, multiple expansions over the past 2 years and a premium valuation to peers balance risk/reward.
The sell-side analysts give the stock a Strong Buy rating on average, with $35.29 average price target.
Seeking Alpha authors and the Quant Rating system give the stock a Buy rating.