GMS Inc. price target raised to $110 from $95.20 at DA Davidson

DA Davidson raised the firm’s price target on GMS Inc. (GMS) to $110 from $95.20 and keeps a Neutral rating on the shares after Home Depot’s (HD) SRS Distribution announced a deal to acquire GMS for $110 per share in cash and debt. While a superior proposal is still possible, it is unlikely considering the termination fee that GMS would be required to pay Home Depot should the company enter into an alternative transaction, as well as the healthy 11-times forward EBITDA valuation that the bid represents, the analyst tells investors in a research note.