RPM price target lowered to $123 from $127 at BMO Capital

BMO Capital lowered the firm’s price target on RPM to $123 from $127 but keeps an Outperform rating on the shares after its Q3 results and guidance. The company has shown significantly improved profitability in F24 with improved price/cost and Performance Coatings Group / Construction Products Group segments enjoying a lift from onshoring trends, the analyst tells investors in a research note. RPM’s significant work tied to the MAP25 initiatives has been partially masked by weak volumes in their markets, but as volume trends likely improve in the next 12 months, the evidence of management’s work will be more clear, the firm added.