Truist lowered the firm’s price target on GMS Inc. to $95 from $105 and keeps a Hold rating on the shares. The company’s Q4 results were below consensus expectations as weak steel volume and pricing drove down margins with some wallboard pressure, the analyst tells investors in a research note. This will improve as deflation is passed through, but how much more pressure remains is the question, the firm states, adding that GMS’s near-term results will “remain volatile”.
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