UBS analyst Steven Fisher raised the firm’s price target on United Rentals to $460 from $420 and keeps a Buy rating on the shares. The analyst believes that investors will be "pleased" with the company’s Q4 results and initial FY23 guidance as its management called out expectations for "a year of strong growth". The dividend initiation and the resumption of the buyback also reflect United Rentals’ improved cash generation and balance sheet, and the company looks well positioned to take advantage of the growth anticipated in non-residential construction over the next few years, the firm tells investors in a research note.
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- United Rentals initiates quarterly dividend of $1.48 per share
- United Rentals resumes stock buybacks, to repurchase $1.0B in 2023
- United Rentals sees FY23 revenue $13.7B-$14.2B, consensus $13.46B
- United Rentals reports Q4 EPS $9.15, consensus $10.37
- United Rentals options imply 4.0% move in share price post-earnings