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GMS Inc price target raised to $30 from $23 at RBC Capital.

RBC Capital analyst Mike Dahl raised his price target on GMS to $30 and kept his Outperform rating after its Q1 earnings beat. The analyst says the company's core organic growth remained "solid" with wallboard pricing coming in "more resilient" than he expected. Dahl also raises his FY20 organic growth outlook for GMS' Wallboard segment to +1% from -1% and its Ceilings segment to 5% from 4%, even though he sees the organic growth outlook for the Steel sector as weaker. The analyst adds that the company's free cash flow strength seen in Q1 along with its more stable pricing trends warrant a higher multiple for the stock.

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Publication:The Fly
Date:Aug 30, 2019
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