-- CIBC Capital Markets maintained its outperformer rating on RB Global (RBA.TO, RBA) and raised ts price target to US$134 from US$132 after the company reported its first-quarter financial results on Monday.
The company delivered a "strong Q1, beating expectations and raising FY26 guidance, while continuing to execute well operationally and on its strategic M&A agenda," it noted. CIBC believes the company's "consistent execution across both segments underpins its ability to continue expanding market share, even amid inherent lumpiness in underlying market conditions."
"While pockets of macro and geopolitical uncertainty remain, management's focus on growing market share, controlling costs, and allocating capital prudently, leaves us confident in the company's ability to drive earnings growth," said analyst Krista Friesen.
The bank tweaked its model having actualized Q1 results and to account for management's commentary. It now forecasts 2026 EBITDA of US$1.51 billion from US$1.48 billion expected earlier and 2027 EBITDA of US$1.58 billion from US$1.57 billion expected earlier.
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Price: $145.67, Change: $+2.58, Percent Change: +1.80%