As previously reported, Northland analyst Ted Jackson downgraded Alta Equipment Group (ALTG) to Market Perform from Outperform with a price target of $20, down from $30, after Alta reported “disappointing” Q3 sales. The firm has lowered its forecasts as it notes that the company’s end markets remain challenged and says they will likely remain so until the second half of 2025. The firm adds that it will revisit its rating “when we sense that growth has returned.”
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ALTG:
- Alta Equipment Group downgraded to Market Perform from Outperform at Northland
- Alta Equipment Group Reports Decline in Q3 2024 Revenue
- Alta Equipment Group reports Q3 adjusted EPS (72c), consensus (24c)
- Alta Equipment Group sees FY24 adjusted EBITDA $170M-$175M
- ALTG Earnings this Week: How Will it Perform?