GMS Inc. price target raised to $98 from $87 at Stephens

Stephens raised the firm’s price target on GMS Inc. to $98 from $87 and keeps an Overweight rating on the shares. The firm is more convicted in seeing single-family led wallboard volume growth in calendar 2024 given the recent improvement in mortgage rates and positive outlook from home builders, adding that it thinks structurally higher wallboard operating margins are “not fully reflected in the stock.”