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.
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:
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