RB Global price target raised to $93 from $75 at RBC Capital

RBC Capital raised the firm’s price target on RB Global to $93 from $75 and keeps an Outperform rating on the shares. The company reported strong Q4 results as its legacy business and acquired IAA business drove earnings and EBITDA that were “well ahead” of consensus, the analyst tells investors in a research note. RB Global has made good progress on integrating IAA and realizing synergies to date, while the company’s balance sheet is also in good shape, the firm added.