KeyBanc Upgrades Ritchie Bros (RBA) to Overweight
- Wall Street falls as investors ready for Trump's inauguration
- IBM (IBM) Tops Q4 EPS by 13c, FY17 EPS Guidance Beats Consensus
- American Express (AXP) Misses Q4 EPS by 7c, FY17 EPS Guidance Tops Views at Mid-Poinit
- Skyworks Solutions (SWKS) Tops Q1 EPS by 3c, Offers Q2 Guidance, Announces Buyback
- After-Hours Stock Movers 01/19: (SWKS) (QRVO) (NVAX) Higher; (AFMD) (SGYP) (IBM) Lower (more...)
Get instant alerts when news breaks on your stocks. Claim your 2-week free trial to StreetInsider Premium 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
- Goldman Sachs (GS) PT Raised to $256.00 at Oppenheimer Following 4Q Report
- UPDATE: SunTrust Starts KLX Inc (KLXI) at Buy
- Fastenal (FAST) PT Raised to $49 at Credit Suisse Following 4Q
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!