UBS analyst Steven Fisher downgraded United Rentals to Neutral from Buy with a price target of $525, up from $504. The analyst says a slower cycle and above average multiple equal more limited upside for the shares. UBS still expects United Rentals’ EBITDA to grow in 2024 and 2025, but it says the stock has reached a new all-time high and the multiple is above the five-year average. Additionally, it sees increasing variability of non-residential construction markets compared to the last couple of years.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on URI:
- United Rentals downgraded to Sector Weight from Overweight at KeyBanc
- Early notable gainers among liquid option names on December 1st
- United Rentals price target raised to $322 from $320 at Baird
- United Rentals narrows FY23 revenue view to $14.1B-$14.3B from $14.0B-$14.3B
- United Rentals reports Q3 EPS $11.73, consensus $11.20