Truist raised the firm’s price target on GMS Inc. (GMS) to $105 from $80 and keeps a Hold rating on the shares. The firm notes that Home Depot (HD), which according to the Wall Street Journal has submitted a competing bid following QXO (QXO) cash offer late on Tuesday, may be willing to pay a higher multiple than QXO’s $95.20 per share as QXO has a history of “one and done” offers, the analyst tells investors in a research note.
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Read More on GMS:
- GMS Inc. price target raised to $90 from $80 at Raymond James
- GMS Inc. price target raised to $95 from $90 at Stephens
- Home Depot submitted competing takeover bid for GMS, WSJ reports
- GMS jumps 20% to $96.99 after WSJ report of competing Home Depot bid
- GMS Inc Navigates Labor Shortages: Rising Costs and Supply Chain Challenges Ahead