Ritchie Bros. price target raised to $70 from $61 at National Bank

National Bank analyst Maxim Sytchev raised the firm’s price target on Ritchie Bros. (RBA) to $70 from $61 and keeps an Outperform rating on the shares as part of a broader research note previewing Q2 results for select Industrial Products names. The analyst is citing higher volume growth while increasing the forward earnings multiple to 26-times from 24-times given the firm’s confidence in operating leverage and material valuation discount vs. Copart (CPRT). The stock’s risk / reward skew remains one of the most attractive in its coverage, National Bank added.