RBC Capital raised the firm’s price target on GMS Inc. (GMS) to $110 from $95.20 and keeps a Sector Perform 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. Given that the deal reflects the culmination of a sales process and a very full valuation, RBC expects the transaction to close as planned per the stated timeline, the analyst tells investors in a research note.
Don’t Miss TipRanks’ Half-Year Sale
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on GMS: