Ritchie Bros (RBA) PT to $35 at Jefferies

Jefferies analyst Stephen Volkmann reiterated a Buy rating and boosted his price target on Ritchie Bros (NYSE: RBA) to $35.00 (from $30.00), saying the story has additional upside.

Volkmann commented, "We continue to believe new management can increase profitability and better utilize an under-levered balance sheet to further drive shareholder value. Recent auction trends suggest growth continues to run ahead of expectations. We increase our earnings estimates and price target and maintain our BUY rating."

The firm raised FY 2016 EPS from $1.25 to $1.30.

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 $28.85 yesterday.

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