Multiple brokerages raised their price target on GMS on Tuesday after Home Depot announced that its unit, SRS Distribution, was buying the building products distributor for $4.3 billion. Barclays raised GMS’ price target to $110 from $95 and maintained its Equal Weight rating,

The retailer’s SRS subsidiary will initiate a cash tender offer to acquire all GMS common stock for $110 per share.

(Reuters) -Home Depot said on Monday unit SRS Distribution has agreed to acquire specialty building products distributor GMS for about $4.3 billion, stepping up its efforts to capture more demand from professional contractors. The deal also comes amid threats of a hostile takeover for GMS from billionaire Brad Jacobs-led rival QXO.