Wells Fargo raised the firm’s price target on RPM to $134 from $125 and keeps an Equal Weight rating on the shares. While RPM posted another solid quarter driven by MAP savings offsetting weak DIY demand, the firm remains on the sidelines given valuation and lack of near-term volume growth, but recognizes there is good leverage to a housing recovery.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on RPM:
- Morning Movers: Humana plummets following reductions in Star ratings
- Options Volatility and Implied Earnings Moves Today, October 02, 2024
- RPM sees FY25 sales up in low-single-digit percentage range vs. last year
- RPM reports Q1 adjusted EPS $1.84, consensus $1.75
- RPM expects Q2 consolidated sales flat vs. prior year