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Raymond James Financial Upgrades Alta Equipment Group (NYSE:ALTG) to Outperform
Raymond James Financial upgraded Alta Equipment Group (NYSE:ALTG) from “market perform” to “outperform” with a new price target of $9.50, representing a potential 43% upside. This upgrade comes despite Alta Equipment Group missing its quarterly EPS estimates and remaining unprofitable, though its revenue beat expectations. Insider selling by the CEO and CFO was noted, contrasting with significant institutional ownership.