Stephens raised the firm’s price target on GMS Inc. (GMS) to $95 from $90 and keeps an Overweight rating on the shares as it is adjusting its estimates following fiscal Q4 results and fiscal Q1 guidance. Overall, the firm is “encouraged by the solid results amid a challenging macro backdrop” and sees a demand trough likely coming into view, the analyst tells investors.
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Read More on GMS:
- Home Depot submitted competing takeover bid for GMS, WSJ reports
- GMS jumps 20% to $96.99 after WSJ report of competing Home Depot bid
- GMS Inc Navigates Labor Shortages: Rising Costs and Supply Chain Challenges Ahead
- M&A News: Home Depot and QXO Battle for GMS in Construction Supremacy Bid
- GMS says board will review QXO takeover proposal of $95.20 per share
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