Credit Suisse raised the firm’s price target on United Rentals to $521 from $482 and keeps an Outperform rating on the shares. United Rentals beat Q2 consensus estimates on EPS, sales, and adjusted EBITDA and raised FY23 guidance, the analyst tells investors in a research note. The Ahern deal, although a drag through 2023, adds capacity and positions United Rentals to capitalize on macro-resilient mega trends in the medium term like infrastructure spend, clean energy and advanced manufacturing funded by the IRA, and private investments across autos, semiconductors, energy and power, Credit Suisse contends.
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- United Rentals price target raised to $525 from $520 at KeyBanc
- United Rentals price target raised to $320 from $300 at Baird
- United Rentals raises FY23 revenue view to $14B-$14.3B from $13.7B-$14.2B
- United Rentals reports Q2 adjusted EPS $9.88, consensus $9.01
- United Rentals options imply 4.5% move in share price post-earnings