United Rentals surges to record high on beat-and-raise report

United Rentals

23/07/2026 15:23

** United Rentals URI.N shares surge 13.8% to intraday record high of $1,177.67 and among top S&P 500 .SPX performers on Thurs after co surpassed Wall Street's expectations and raised annual sales forecast on strong equipment rental demand
** URI late Weds posted Q2 rev growth of 12% yr/yr to $4.41 bln and adj EPS of $12.76, beating analysts' estimates of $4.22 bln and $11.53, respectively, per LSEG data
** Co said now sees full-year rev of $17.5-$17.8 bln, vs prior view of $16.9-$17.4 bln; anaylsts on avg had modeled for $17.27 bln in rev
** BofA Global Research maintains 'buy' and hikes PT from $1,195 to $1,300
** URI managing costs, reinvesting in growth and keeping leverage low (1.8x) at a time when peers are struggling with inflation, soft local market and have higher leverage, BofA writes in note to clients
** Avg rating of 23 brokerages is "buy"; median PT $1,165 - LSEG
** URI shares last up ~12%, putting them up ~44% YTD, far outpacing the S&P 500's .SPX ~8.5% rise
     

(Lance Tupper is a Reuters market analyst. The views expressed are his own)
((lance.tupper@tr.com 1-646-279-6380))