Barrington analyst Gary Prestopino upgraded Ritchie Bros. (RBA) to Outperform from Market Perform with a price target range of $65-$70 based on the company’s planned acquisition of IAA (IAA) and its "strong fundamental outlook" following the company having reported better-than-expected Q3 results. Ritchie Bros’ agreement to acquire IAA in a stock and cash transaction valued at approximately $7.3B, or $46.88 per share, has "an attractive financial profile," Prestopino tells investors.
Published first on TheFly
See Insiders’ Hot Stocks on TipRanks >>
Read More on RBA:
