DA Davidson Starts GMS Inc. (GMS) at Buy

DA Davidson analyst Kurt Yinger initiates coverage on GMS Inc. (NYSE: GMS) with a Buy rating and a price target of $82.00.

The analyst comments "We are initiating coverage of GMS with a BUY rating, believing that 1) wallboard pricing will be more stable than feared alongside healthy industry op. rates and synthetic gypsum challenges, 2) the company's track record of growth and consistency of margins is underappreciated, and 3) a strong balance sheet positions GMS to execute across the spectrum of capital allocation priorities. Our $82 price target represents ~10x 2024E adj. EPS, a slight premium to historical averages, though we believe warranted given the company's strong/consistent margin profile."

For an analyst ratings summary and ratings history on GMS Inc. click here. For more ratings news on GMS Inc. click here.

Shares of GMS Inc. closed at $69.25 yesterday.

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