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Fly News Breaks for October 4, 2018
RPM
Oct 4, 2018 | 09:32 EDT
BMO Capital analyst John McNulty kept his Outperform rating and $75 price target on RPM after its Q1 results, saying that despite the earnings miss, his bullish thesis remains intact. The analyst notes that the price to raw material dynamic was at its worst in the quarter but should see some pricing relief going forward. McNulty also cites RPM's cost-cutting pace proceeding faster than expected, adding that the increase in marketing expense should yield incremental volume growth.
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