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UPDATE: Bank of America Initiates United Rentals at Buy on US Non-Residential Strength

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Bank of America initiated United Rentals (NYSE: URI) with a Buy rating and a $66.00 price objective.

Bank of America noted, "We see rising equipment rental penetration as big rental fleet owners like URI improve service levels, and end user economics favor renting over owning. We expect pro forma EBITDA to grow another 19% in 2013 following 40% growth last year. A pickup in US non-residential construction (55-60% of sales) should still lie ahead, eventually driving peak EPS of $7.70 by 2015, we estimate, 16% ahead of consensus."

United Rentals closed at $53.32 on Monday.

Latest Ratings for URI

DateFirmActionFromTo
Oct 2014CitigroupMaintainsBuy
Oct 2014MacquarieMaintainsNeutral
Oct 2014Bank of AmericaDowngradesBuyNeutral

View More Analyst Ratings for URI
View the Latest Analyst Ratings

Posted-In: Bank of AmericaAnalyst Color Initiation Analyst Ratings

 

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