Credit Suisse analyst Jamie Cook initiated coverage of United Rentals with an Outperform rating and $544 price target. United is the largest rental construction equipment company in North America and has shifted its business model from just a rental equipment company to a total solutions provider, the analyst tells investors in a research note. The firm says the shift has provided the company the ability to consistently invest organically and inorganically, driving above-average sales growth as well as improved margins, cash flow, and returns through the cycle.
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