B. Riley analyst Liam Burke took over coverage of Alta Equipment and kept a Buy rating on the shares with a $10 price target Riley expects “several underlying drivers” to create positive momentum in the diversified industrial sector, namely “rapidly increasing” demand for high-powered artificial intelligence data centers, funding from federal and state infrastructure programs reaching the construction stage, and the ongoing energy transition from traditional fossil fuels to renewables. The firm’s top picks are NPK International (NPKI) and Alta Equipment (ALTG).
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Read More on ALTG:
- Alta Equipment price target lowered to $8.50 from $9 at Raymond James
- Alta Equipment Group’s Earnings Call: Resilience Amid Challenges
- Alta Equipment Group Reports 2024 Earnings Decline
- Alta Equipment Group reports Q4 adjusted EPS (46c), consensus (24c)
- Alta Equipment Group sees FY25 adjusted EBITDA $175M-$190M
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