United Rentals price target raised to $440 from $435 at Wells Fargo

Wells Fargo analyst Seth Weber raised the firm’s price target on United Rentals to $440 from $435 and keeps an Overweight rating on the shares. The analyst sees consensus EBITDA rising, while the Ahern buy provides fleet optimization runway and supplements capex. Meanwhile, $2B-plus annual free cash flow should enable share repo restart and could trigger an initial dividend, which, along with evidence of a more resilient model could drive multiple expansion, Weber argues.