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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
Sep 2016OTR GlobalUpgradesMixedPositive
Sep 2016Deutsche BankInitiates Coverage onHold
Aug 2016MacquarieInitiates Coverage onUnderperform

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Posted-In: Bank of AmericaAnalyst Color Initiation Analyst Ratings

 

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