RPM initiated with a Buy at Citi

Citi initiated coverage of RPM (RPM) with a Buy rating and $135 price target RPM produces and sells paints, coatings and adhesives, construction chemicals and products, and roofing systems primarily targeting maintenance and improvement for industrial, specialty and consumer markets, the analyst tells investors in a research note. The firm sees the stock as a “strong compounder” with benefits from infrastructure trends. It believes RPM’s more resilient operating mix and strong leverage when the cycle turns create a better risk/reward for the shares.