United Rentals price target raised to $796 from $793 at Truist

Truist raised the firm’s price target on United Rentals to $796 from $793 and keeps a Buy rating on the shares. The company reported another solid print slightly ahead of consensus estimates on revenue while increasing its FY24 guidance for the Yak acquisition, with the core guidance reiterated, the analyst tells investors in a research note. Despite concerns on a slowdown, United Rentals continues to see broad-based demand across geographies and verticals led by large projects, as the management noted growth in construction being driven by non-residential, and industrial manufacturing driven by the onshoring of manufacturing, utilities, and downstream markets, Truist added.