Alta Equipment Group (ALTG) PT Lowered to $6.75 at Raymond James

Raymond James analyst Frederic Bastien lowered the price target on Alta Equipment Group (NYSE: ALTG) to $6.75 (from $8.50) while maintaining a Market Perform rating.

The analyst comments "While we continue to admire Alta Equipment Group’s (Alta) long-term focus and unique position as a preferred consolidator, we are trimming our target to $6.75 (vs. $8.00 prior) and reiterating our Market Perform Rating based upon: 1) sustained competitive pressures across the heavy equipment landscape; 2) another corresponding guidance cut (FY25); & 3) Alta’s elevated leverage profile. We continue to monitor."

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