Baird upgraded United Rentals (URI) to Neutral from Underperform with an unchanged price target of $658. The near-term findings of Baird’s survey continue to point to a slower rental market, but respondents are “decidedly bullish” on the 2025 industry outlook, the analyst tells investors in a research note. With the recent pullback in United Rentals shares, the firm views the upside/downside as more balanced. Baird says its cautious view gradually played out with November put-in-place construction spending growth the slowest in 66 months.
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