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Fly News Breaks for August 31, 2016
CAT, RBA
Aug 31, 2016 | 08:09 EDT
Baird analyst Craig Kennison raised his price target on Ritchie Bros. (RBA) to $39 from $34 following its announced acquisition of IronPlanet. Kennison believes the acquisition is a game changer as it amplifies material scale advantages, secures a Caterpillar (CAT) alliance, accelerates growth, and adds new markets. Kennison reiterated his Outperform rating on Ritchie Bros. shares.
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