RPM price target raised to $127 from $125 at BMO Capital

BMO Capital raised the firm’s price target on RPM to $127 from $125 and keeps an Outperform rating on the shares. The firm’s discussions with the company CFO left it with a view that the stock should “solidly outperform” over the next 12-24 months, the analyst tells investors in a research note. In the near term, RPM should enjoy stable to modestly rising price, moderating raws, and solid volumes in Construction Products Group and Performance Coatings Group segments, the firm states. Longer term, RPM earnings growth will likely surprise to the upside with continued sector growth tied to infrastructure and onshoring as well as a recovery in existing home sales, BMO added.