United Rentals price target raised to $740 from $650 at BofA

BofA analyst Michael Feniger raised the firm’s price target on United Rentals to $740 from $650 and keeps a Buy rating on the shares. BofA industrial lead indicators are “starting to perk up,” providing some visibility for 2025, says the analyst, who believes higher peer comparative and improving lead indicators warrant a higher multiple given United’s “rising leadership in the rental equipment space.”