RPM price target raised to $105 from $103 at RBC Capital

RBC Capital analyst Arun Viswanathan raised the firm’s price target on RPM to $105 from $103 and keeps a Sector Perform rating on the shares. The company’s Q1 results were “solid”, with RPM “executing well” through difficult economic macros, the analyst tells investors in a research note. RPM is also positioned for strong earnings growth in FY24 as destocking wanes and as FX and raws deflation become tailwinds, the firm added. At current levels however, RPM shares are “fairly valued”, RBC states.