The Globe and Mail reports in its Tuesday, Feb. 27, edition that Scotia Capital analyst Michael Doumet is keeping his "sector outperform" ranking for RB Global intact. The Globe's David Leeder writes in the Eye On Equities column that Mr. Doumet boosted his share target to $88 from $76 (all figures U.S.). Analysts on average target the shares at $80.50.
Mr. Doumet says in a note: "To us, RB Global is showing better execution (than ever), delivering faster growth, while also driving cost efficiencies. We believe the focus on 'efficient growth' has legs into 2024. While expectations have risen following several beats, we still view RB Global as a low-expectation/low-multiple stock." The Globe reported on May 19 and Dec. 15 that National Bank analyst Maxim Sytchev rated RB Global "outperform." The shares could then be had for $52 and $63.79. The Globe reported on Feb. 7 that Mr. Doumet had reaffirmed his "sector outperform" recommendation for RB Global when it could be had for $67.46.
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