GMS Inc. price target raised to $86 from $78 at RBC Capital

RBC Capital raised the firm’s price target on GMS Inc. (GMS) to $86 from $78 but keeps a Sector Perform rating on the shares after its Q2 earnings miss. The firm continues to see limited prospects for near-term improvement in price/margins as organic volume declines are likely to continue well into 2025, though the company’s SG&A cost takeout is serving more to cushion the blow, the analyst tells investors in a research note.