Alta Equipment price target lowered to $7 from $8.50 at Raymond James

Raymond James lowered the firm’s price target on Alta Equipment (ALTG) to $7 from $8.50 and keeps a Market Perform rating on the shares. The firm cites sustained competitive pressures across the equipment landscape and Alta’s elevated leverage profile for the price target reduction, the analyst tells investors in a research note. Raymond James is comfortable sticking to the sideline until further macro clarity emerges.