Multiple Raised Targets Raymond James’ Steve Hansen hiked his RB Global Inc. ( target to US$90 from US$78 with an “outperform” rating. Other changes include: Scotia’s Michael Doumet to US$88 from US$76 with a “sector outperform” rating and RBC’s Sabahat Khan to US$93 from US$75 with an “outperform” rating. The average is US$80.50.
“To us, RBA is showing better execution (than ever), delivering faster growth, while also driving cost efficiencies. We believe the focus on ‘efficient growth’ has legs into 2024. While expectations have risen following several beats, we still view RBA as a low-expectation/low-multiple stock,” said Mr. Doumet.