GMS Inc. price target raised to $110 from $95 at Loop Capital

Loop Capital analyst Garik Shmois raised the firm’s price target on GMS Inc. (GMS) to $110 from $95 and keeps a Hold 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. Home Depot is a great culture fit with President and CEO John Turner and GMS senior leadership team staying onto lead the company as part of SRS Distribution, and the deal unlocks significant shareholder value during a time when GMS earnings have been pressured by residential and commercial demand headwinds, the analyst tells investors in a research note.