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  "documentTitle": "Ritchie Bros. Auctioneers (RBA)",
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  "authorName": "Ancora",
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  "presentationDate": "2023-02-08 00:00:00",
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  "notes": "The chart uses a waterfall bridge to decompose the value creation drivers.",
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      "text": "We believe the IAA-RBA combination has the potential to drive significant value creation – unlocking 100%+ in share price upside over the next 12-24 months",
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      "text": "share price: $129.78",
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      "kind": "source-note",
      "text": "(1) FactSet RBA closing price on 2/7/2022... (6) Ancora Estimate, 24-month Proforma Price Target assumes fully diluted share count of ~188mm shares, FCF in 2023 and 2024 of $375mm and ~$1.0b, and net debt of ~$1.45b exiting 2024",
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