GMS rises after Stephens raises price target

GMS

01/09/2023 15:15

** Shares of construction supplies distributor GMS  GMS.N 
rise 2.5% to $71.05
    ** Stephens raises co's price target to $87 from $85 and
rates co as "overweight"; the new PT represents a 25.4% upside
to the stock's last close 
    ** Co on Thursday in its Q1 FY24 results reported net sales
of $1.4 bln, beating analysts' estimates of $1.38 bln - LSEG
data 
    ** Four of 8 brokerages rate the stock "buy" or higher and 4
"hold"; their median PT is $82
    ** YTD, GMS up 39.24%

 (Reporting by Abhinav Parmar)
 ((Abhinav.Parmar@thomsonreuters.com))