Ritchie Bros. Auctioneers (RBA): Raising PT 31% - BMO

August 31, 2016 9:14 AM EDT
Get Alerts RBA Hot Sheet
Price: $34.44 -0.35%

Rating Summary:
    5 Buy, 10 Hold, 2 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 25 | Down: 28 | New: 8
Trade RBA Now!
Join SI Premium – FREE

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.

BMO Capital analyst, Bert Powell, reiterated his Market Perform rating on shares of Ritchie Bros (NYSE: RBA) and thinks there is "more opportunity for growth and operating leverage". He also raised his price target to $38 from $29.

The analyst stated "The acquisition of IronPlanet (IP) has a multitude of benefits. This transaction, while missing data points that would be helpful in understanding IP, firmly distances RBA from its past. Near term, notwithstanding all the “fits”, integration, building new sectors and geographic expansion take time. We believe the stock is discounting some of the future, and while it appears there may be more opportunity for growth and operating leverage, we would let the stock settle down, and more details surface, before we become more constructive".

For an analyst ratings summary and ratings history on Ritchie Bros click here. For more ratings news on Ritchie Bros click here.

Shares of Ritchie Bros closed at $35.71 yesterday.

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In

Related Categories

Analyst Comments, Analyst PT Change

Related Entities

BMO Capital, Definitive Agreement

Add Your Comment