KeyBanc Upgrades Ritchie Bros (RBA) to Overweight
- Wall Street dips as Verizon drags; AmEx curbs losses
- Unusual 11 Mid-Day Movers 10/20: (DRWI) (MBRX) (SPU) Higher; (RIGL) (FLXS) (DXPE) Lower
- Tesla (TSLA) Announces Self-Driving Hardware for All Vehicles in Production; Includes Model 3
- Walgreens Boots Alliance (WBA) Tops Q4 EPS by 8c; Guides FY17 EPS
- Verizon Communications (VZ) Tops Q3 EPS by 2c
Find out which companies are about to raise their dividend well before the news hits the Street with StreetInsider.com's Dividend Insider Elite. Sign-up for a FREE trial here.
KeyBanc upgraded Ritchie Bros (NYSE: RBA) from Sector Weight to Overweight with a price target of $34. Analyst Joe Box thinks the company's Q2 miss creates a buying opportunity.
"We are upgrading RBA to OW from SW and introducing a $34 price target as we believe cost headwinds in 2Q16 were transitory and its LT strategic plan positions the Company to capitalize on potential non-res construction cyclical weakness that seems imminent. Therefore, we view the recent pullback as an opportunistic entry point, especially in the context of attractive valuation," said Box.
Shares of Ritchie Bros closed at $28.05 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- UPDATE: Wells Fargo Upgrades Vail Resorts (MTN) to Outperform
- Lam Research (LRCX) PT Raised to $95 at Nomura But Remains Sidelined
- Dougherty & Co Starts EMCORE (EMKR) at Buy
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS View, Upgrades
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!