Alta Equipment downgraded to Market Perform from Outperform at Raymond James

Raymond James downgraded Alta Equipment Group to Market Perform from Outperform with a price target of $10, down from $14. The company’s recent guidance cut reflects accelerating competitive pressures across the equipment landscape, the analyst tells investors in a research note. The firm says that while Alta’s “discounted valuation arguably prices in a good portion of these headwinds,” it prefers to move to the sideline until better visibility emerges.