KeyBanc raised the firm’s price target on United Rentals (URI) to $1,120 from $1,075 and keeps an Overweight rating on the shares. The firm hosted virtual investor meetings with the company’s CFO, Ted Grace, and walked away with continued conviction in its bullish thesis. Specifically, KeyBanc thinks United Rentals should benefit from its outsized exposure to secular mega project activity, and sees upside potential from both M&A and/or improving local account demand into 2026. The firm believes the combination of these factors in conjunction with the company’s leading industry position is likely to support upward estimate revisions and multiple expansion in the coming years.
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