Seaport Research raised the firm’s price target on RPM to $130 from $125 and keeps a Buy rating on the shares. The company’s Q3 results were modestly ahead of expectations and its EBIT margin bolstered the firm’s view of its long-term margin expansion opportunities, the analyst tells investors. Seaport expects continued strength in non-residential construction and believes RPM has exposure to improving housing market trends but remains cautious on the pace of recovery in existing home sales.
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