GMS Inc. price target raised to $70 from $68 at RBC Capital

RBC Capital raised the firm’s price target on GMS Inc. to $70 from $68 and keeps a Sector Perform rating on the shares after its Q2 earnings beat. The company’s near-term resilience continues, and while risks remain looking to 2024 from a slowdown in multi-family/commercial segments, the near-term tailwinds from strong backlogs are helping with a bridge towards improving single-family volumes later this fiscal year, the analyst tells investors in a research note.