RB Global upgraded to Buy at BofA after pullback

As previously reported, BofA upgraded RB Global (RBA) to Buy from Neutral with a $120 price target as the firm believes the risk-reward is turning more favorable after a pullback in share price. While the firm “would not dismiss” recent overhangs, such as limited catastrophic events, decline in repairable claims, and used auto concerns, and it says it does not view Q3 as a catalyst, it is looking through to a positive long-term, the analyst tells investors.