Jefferies Bumps Price Target on Ritchie Bros (RBA) After In-Line Q4; Maintains Hold

Jefferies boosted its price target on Ritchie Bros (NYSE: RBA) from $20 to $21 but kept is Hold rating following Q4 results. The company posted EPS $0.25 compared consensus of $0.24 and the firm's estimate of $0.30 which was based on an Auction Revenue Rate 130bps higher than reported. Sales in the quarter of $1.0bln were in line with expectations, though a higher % came from At-Risk business which underperformed company expectations in the 4Q. 2012 guidance was slightly below Street expectations.

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 $23.90 yesterday.

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