RBC Capital lowered the firm’s price target on GMS Inc. to $85 from $92 and keeps a Sector Perform rating on the shares. The company’s Q1 guide was “weak” as near-term margin pressure in Steel and Wallboard segments dragged down estimates, the analyst tells investors in a research note. RBC adds that it still sees risks to estimates looking out, particularly with multi-family construction declines setting in shortly and given the uncertainty around steel pricing and SG&A leverage.
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