GMS Inc. price target raised to $94 from $74 at Loop Capital

Loop Capital analyst Jeffrey Stevenson raised the firm’s price target on GMS Inc. to $94 from $74 and keeps a Hold rating on the shares as part of a broader research note in Wallboard. The March quarter is off to a slower-than-expected start due to poor weather, but project delays should be recovered over the next few months, the analyst tells investors in a research note. If demand improves and supply tightens in March and April in part to the pent-up demand from early-year delays along with a stronger single-family housing market, average wallboard prices may move higher over the next 1-2 months by 1%-3% at least, the firm added.