Baird analyst Craig Kennison raised the firm’s price target on Ritchie Bros. (RBA) to $66 from $62 and keeps an Outperform rating on the shares. The analyst believes the Starboard-backed revised offer more likely to earn shareholder support for its acquisition of IAA (IAA).
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly
See today’s best-performing stocks on TipRanks >>
Read More on RBA:
- Ritchie Bros. (TSE:RBA) Amends IAA Acquisition Terms, Gains Investor Support
- Ritchie Bros., IAA merger expected to close in 1H23
- Ritchie Bros. Announces $500 Million Strategic Investment from Starboard Value
- Ritchie Bros. and IAA Announce Amended Merger Agreement That Enhances Value for Ritchie Bros. Shareholders While Increasing Cash Consideration for IAA Shareholders
- Ritchie Bros., IAA announce amended merger agreement