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BMO Capital Maintains Ritchie Bros Auctioneers(RBA.US) With Buy Rating, Raises Target Price to $107

Moomoo News ·  Nov 11 10:31  · Ratings

BMO Capital analyst John Gibson CFA maintains $Ritchie Bros Auctioneers (RBA.US)$ with a buy rating, and adjusts the target price from $105 to $107.

According to TipRanks data, the analyst has a success rate of 62.4% and a total average return of 25.0% over the past year.

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Furthermore, according to the comprehensive report, the opinions of $Ritchie Bros Auctioneers (RBA.US)$'s main analysts recently are as follows:

  • The company's Q3 results showed robustness, with an increase in service revenue take rate balancing the softer gross transaction value. Additionally, the company is making strides in gaining market share, bolstering the long-term optimistic perspective.

  • RB Global's Q3 revenue did not meet expectations, however, its adjusted EBITDA and EPS exceeded the consensus. The significant development this quarter was the company's selection as the exclusive salvage partner for a customer in Australia. The company maintains strong execution on its fundamental operations, with customer acquisitions in IAA indicating potential growth beyond the base case scenario.

  • The company demonstrated earnings per share upside and provided a modest increase in their guidance, emphasizing stringent cost management amid an unpredictable economic landscape.

Note:

TipRanks, an independent third party, provides analysis data from financial analysts and calculates the Average Returns and Success Rates of the analysts' recommendations. The information presented is not an investment recommendation and is intended for informational purposes only.

Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.

TipRanks provides a ranking of each analyst up to 5 stars, which is representative of all recommendations from the analyst. An analyst's past performance is evaluated on a scale of 1 to 5 stars, with more stars indicating better performance. The star level is determined by his/her total success rate and average return.

Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more
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