RBC Capital lowered the firm’s price target on RPM (RPM) to $116 from $126 and keeps a Sector Perform rating on the shares. The company posted a weaker Q3 amid unfavorable weather and slow end market growth, the analyst tells investors in a research note. RPM eliminated fixed costs through plant consolidation, has a robust backlog, and has limited tariff impacts, but the company still faces mid-single-digit raw material inflation and general end market choppiness, the firm adds.
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