H&E Equipment price target raised to $61 from $47 at B. Riley

B. Riley analyst Alex Rygiel raised the firm’s price target on H&E Equipment to $61 from $47 and keeps a Buy rating on the shares following the Q2 beat. The company continues to benefit from strong non-residential construction spending trends, the analyst tells investors in a research note. The firm believes H&E is well positioned to benefit from improving construction activity and limited equipment supply, especially in late 2023 and 2024.