Bernstein upgrades United Rentals to 'market-perform'

United Rentals

25/03/2025 13:08

** Bernstein upgrades rating on equipment rental firm United Rentals URI.N to "market-perform" from "underperform"

** "We underestimated the power of Specialty Rental, which has become an outsized contributor to growth in earnings, returns and multiple" - brokerage

** But cuts PT to $666 from $705, still implying a 3% upside to stock's last close

** A softer supply/demand environment will pressure company's general rentals segment's gross margins - Bernstein

** 11 of 23 brokerages rate URI "buy" or higher, 9 "hold" and 3 "sell" or lower; median PT is $782.50 - data compiled by LSEG

** As of last close, stock down 8% YTD

 (Reporting by Anshuman Tripathy)

 ((Anshuman.Tripathy@thomsonreuters.com))