Alta Equipment downgraded at Northland after ‘disappointing’ Q3

As previously reported, Northland analyst Ted Jackson downgraded Alta Equipment Group (ALTG) to Market Perform from Outperform with a price target of $20, down from $30, after Alta reported “disappointing” Q3 sales. The firm has lowered its forecasts as it notes that the company’s end markets remain challenged and says they will likely remain so until the second half of 2025. The firm adds that it will revisit its rating “when we sense that growth has returned.”