RB Global price target raised to $118 from $116 at CIBC

CIBC raised the firm’s price target on RB Global (RBA) to $118 from $116 and keeps an Outperformer rating on the shares. RB Global reported a solid quarter, and despite the heightened level of uncertainty in the market, the company maintained its full-year guidance, the analyst tells investors in a research note. RB also announced a new contract win for its IAA division with a leading U.K. insurance provider which is set to start contributing in Q3, the firm says.