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According to Oppenheimer, RSC Holdings
RRR price target is lowered to $14.
Oppenheimer said that RRR is down on concerns of a tepid economic environment. “We're tempering our PT from $18 to $14 (6x 2012E EV/EBITDA of $595M vs. its 4-7x historical FTM range). We apply a conservative 5x FTM EV/EBITDA multiple to our 2014E EBITDA of $775M, discounted at 12%.”
RSC Holdings closed yesterday at $7.92.
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