01:13 PM EDT, 06/09/2025 (MT Newswires) -- Last week, S&P announced that RB Global ( RBA ) will be added to the S&P/TSX Composite Index, effective Monday, June 23, notes RBC.

On May 1, S&P announced a change for the eligibility criteria for S&P/TSX Indices, to allow companies domiciled or incorporated in Canada, and listed on Toronto Stock Exchange, to be eligible for inclusion in the S&P/TSX indices. Previously, securities needed to be domiciled in Canada and listed on the Toronto Stock Exchange. (RB Global ( RBA ) had moved its HQ location to Chicago when it acquired IAA in Late 2022.The next year, S&P changed the domicile of RB Global ( RBA ) to the U.S. for index purposes. As a result, RB Global ( RBA ) was removed from the S&P/TSX Composite Index and the S&P/TSX Canadian Aristocrats Index.)

RBC views this as a "directionally positive" development for the company as it may provide the "green light" for some Canadian fund managers that had limitations on holding companies that are not included in the S&P/TSX index in their portfolios. "Our Index Strategy team has estimated that this inclusion announcement could drive ~4.8 million shares of demand (~3.0 days of trading volume)," writes analyst Sabahat Khan.

RB Global ( RBA ) is rated Outperform, with a US$125 target.

Price: 144.52, Change: +0.46, Percent Change: +0.32