GMS Inc. price target raised to $115 from $96 at Baird

Baird raised the firm’s price target on GMS Inc. to $115 from $96 and keeps an Outperform rating on the shares. The firm likes the cyclical setup for the industrial distribution group heading into the Q3 report, citing the sector’s leverage to rate cuts and accelerating end markets in 2025 and beyond. The combination of lower rates, secular drivers, and easing election uncertainty should drive improved industrial and commercial markets in 2025, the analyst tells investors in a research note.