UPDATE: RBC Capital Upgrades GMS Inc. (GMS) to Outperform
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RBC Capital analyst Mike Dahl upgraded GMS Inc. (NYSE: GMS) from Sector Perform to Outperform with a price target of $60.00 (from $50.00).
The analyst comments "We are upgrading GMS to Outperform following the strong 4Q beat, with robust residential demand and pricing set to continue in FY’22 with the potential for additional upside from a commercial recovery. We raise our CY’21/CY’22 EBITDA ests. by +18%/+14% to $387 MM/$403 MM. Our PT rises to $60 (~33% implied upside) from $50 driven by our higher ests. with our multiple unch. at 8x CY’22E EBITDA."
Shares of GMS Inc. closed at $45.10 yesterday.
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