H&E Equipment price target lowered to $47 from $60 at B. Riley

B. Riley analyst Alex Rygiel lowered the firm’s price target on H&E Equipment to $47 from $60 and keeps a Buy rating on the shares. The company continued to benefit from the supply imbalance of new equipment, strong industry demand, and higher interest rates in Q1, the analyst tells investors in a research note. The firm cites the uncertain economic outlook and lower peer multiples for the target drop.