Transcat price target lowered to $94 from $125 at Craig-Hallum

Craig-Hallum analyst Greg Palm lowered the firm’s price target on Transcat (TRNS) to $94 from $125 and keeps a Buy rating on the shares. The firm notes Transcat reported disappointing quarterly results which culminated in another negative earnings revision. Unfortunately, this headline miss overshadowed what Craig-Hallum perceives to be a very attractive acquisition that closed in December, which checks all the boxes and should provide an abundance of synergies.