BofA Securities analyst Michael Feniger maintains $United Rentals (URI.US)$ with a buy rating, and maintains the target price at $910.
According to TipRanks data, the analyst has a success rate of 70.0% and a total average return of 14.2% over the past year.
Furthermore, according to the comprehensive report, the opinions of $United Rentals (URI.US)$'s main analysts recently are as follows:
Following the third-quarter report, it's observed that the key performance indicators for United Rentals have been showing a downward trend, and the unit economics have seen a decrease since the latter part of 2022.
United Rentals is expected to see growth by 2025, driven by large-scale projects, despite the potential for ongoing softness in local markets, according to an analyst.
Q3 outcomes were somewhat below expectations, and there were certain areas that did not meet the anticipated performance levels. Nevertheless, despite the implied Q4 not being guaranteed to impress, growth is still projected for United Rentals, possibly extending into 2025, even with a subdued industrial environment. It is suggested that a higher valuation multiple is justified as the easing cycle of the Federal Reserve commences, and the company's business model along with its financial structure is considered to be adequately adaptable to adjust to the fluctuations of an easing cycle.
Note:
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Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
TipRanks provides a ranking of each analyst up to 5 stars, which is representative of all recommendations from the analyst. An analyst's past performance is evaluated on a scale of 1 to 5 stars, with more stars indicating better performance. The star level is determined by his/her total success rate and average return.
