Michael Feniger, an analyst from Bank of America Securities, reiterated the Buy rating on RB Global. The associated price target was lowered to $114.00.
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Michael Feniger has given his Buy rating due to a combination of factors, primarily focusing on RB Global’s strong performance in the third quarter and the company’s conservative guidance for the future. The company reported a significant increase in EBITDA, which was 8% above consensus, driven by service revenue growth and improvements in key segments such as Commercial Construction and Automotive. Despite the strong results, RB Global’s guidance for the full year remains conservative, which Feniger views as an opportunity for potential upside.
Feniger is also optimistic about RB Global’s prospects leading into 2026, which is anticipated to be a pivotal year for the company. The integration of IAA, along with expected synergies and new customer wins, are set to positively impact the company’s performance. Additionally, the valuation of RB Global is seen as attractive, with the company positioned as a steady double-digit EBITDA compounder. This combination of strong current performance, conservative guidance, and promising future prospects underpins Feniger’s Buy rating.
According to TipRanks, Feniger is a 5-star analyst with an average return of 12.6% and a 65.98% success rate. Feniger covers the Industrials sector, focusing on stocks such as Caterpillar, RB Global, and Paccar.