Cadre downgraded to Underperform at BofA on growth concerns

As previously reported, BofA downgraded Cadre (CDRE) to Underperform from Neutral with a price target of $26, down from $38. Since the company’s Q2 report, the firm’s concerns about slow growth and the current M&A environment have not abated, the analyst tells investors. Given the 1% decline in organic growth in Q2 and management noting several contracts delays, the firm see the potential for further pressure in the second half of 2025, the analyst added.