Ritchie Bros. Auctioneers’ (RBA) Price Target Lowered
By Benzinga Staff
February 09, 2010 2:09 PM
February 09, 2010 2:09 PM
Symbols: RBA
Analysts Jamie Sullivan and Michael Shlisky at RBC Capital Markets have lowered the price target for Ritchie Bros. Auctioneers (NYSE: RBA) from $25 to $20.
Analysts believe Orlando is the best-single auction indicator of the health of the company’s markets. Analysts expect Orlando GAP to decline 18% year-over-year. According to analysts, the decline will put pressure on the shares in the near-term, and also indicate a tough environment for GAP growth in 2010.
According to analysts, pricing will be very important as they believe the mix is not favorable in most categories at the company. Analysts at RBC Capital Markets have maintained a Sector Perform rating for Ritchie Bros. Auctioneers.
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