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Fly News Breaks for December 6, 2018
GMS
Dec 6, 2018 | 09:26 EDT
SunTrust analyst Keith Hughes lowered his price target on GMS to $26 after its Q2 results, saying that while the company's revenues were "solid" and organic growth was "good", the gross margins were "weak" on soft wallboard volumes. Hughes keeps his Buy rating however, noting that the company's operations have improved, and also sees its valuation as "exceptionally cheap" because investors incorrectly perceive it getting "wrongly caught up in the great housing debate".
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