In a report released today, Gary Prestopino from Barrington maintained a Buy rating on RB Global (RBA – Research Report), with a price target of $125.00.
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Gary Prestopino has given his Buy rating due to a combination of factors that highlight RB Global’s potential for growth and operational improvements. Despite a slight decline in adjusted EBITDA and GTV, the company reported a revenue increase, surpassing both the firm’s and consensus estimates. This performance indicates resilience and effective management in challenging market conditions.
Furthermore, RB Global is actively investing in future growth by expanding its management team and enhancing operational efficiencies. The introduction of a new COO and a metric-driven framework is expected to improve customer and partner experiences, as well as streamline operations. These strategic initiatives, along with the company’s ability to adapt its sales event schedule, are likely to support premium pricing and cost management, making RB Global a promising investment opportunity.
In another report released on May 9, CIBC also maintained a Buy rating on the stock with a $118.00 price target.