United Rentals up 6% on Overweight Initiation at Morgan Stanley

United Rentals

is trading higher on the session following a research report by Morgan Stanley. In the note, Morgan Stanley initiates the company with an Overweight rating and $46 price target. Morgan Stanley states, "URI's acquisition of RSC created an industry leader ready to benefit from a streamlined competitive landscape, the trend toward rent versus buy, contractor uncertainty over coming elections, tax code changes, and the long-awaited rebound in US construction." United Rentals is currently trading at $31.98, a gain of $1.80 or 5.96%.