The Globe and Mail reports in its Friday, April 14, edition that CIBC World Markets analyst Scott Fromson, citing a "strong" outlook, expects Ritchie Bros. Auctioneers to maintain its premium valuation. The Globe's David Leeder writes in the Eye On Equities column that Mr. Fromson began coverage of the stock with an "outperformer" rating and $36 (U.S.) target. Analysts on average target the shares at $35.89 (U.S.). Mr. Fromson says in a note: "RBA's multiple distribution channels, broad geographic coverage and long-standing relationships combine to form a powerful value-added proposition. RBA adds value to its customers in construction, transportation, agriculture and resources by simplifying and reducing the costs of managing their heavy equipment assets. RBA's growth has come from organic sources, internal investment and acquisitions. Growth numbers illustrate the strength of RBA's business model: 10-year CAGRs [compound annual growth rates] are 8.1 per cent for revenues and 7.3 per cent for EBITDA. ... Our analysis suggests that RBA moves directionally with heavy equipment manufacturers but with lower volatility. We do not see recent evidence that RBA is countercyclical."