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Fly News Breaks for December 5, 2018
GMS
Dec 5, 2018 | 08:06 EDT
Barclays analyst Matthew Bouley lowered his price target for GMS Inc. to $25 to reflect a 2% reduction to his fiscal 2019 EBITDA estimate as well as a more conservative multiple assumption "reflecting uncertainty around wallboard volume recovery and consolidated gross margins." The analyst, however, keeps an Overweight rating on the shares. He continues to forecast high single-digit base business revenue growth in the second half of 2019 driven by strength in Ceilings, Steel Framing and Wallboard pricing.
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