Analyst Michael Feniger of Bank of America Securities reiterated a Buy rating on United Rentals, retaining the price target of $1,079.00.
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Michael Feniger has given his Buy rating due to a combination of factors that highlight United Rentals’ strong market position and financial health. One key reason is URI’s robust balance sheet, which stands in stark contrast to the financial distress faced by its competitor, United Site Services. This financial stability allows URI to capitalize on growth opportunities in the Onsite Services sector, where it has already achieved significant expansion through strategic acquisitions and organic growth.
Moreover, URI’s position as a likely number two player in the portable restrooms market offers it a competitive edge, especially as the market remains highly fragmented and ripe for further mergers and acquisitions. Feniger sees potential for URI to continue its growth trajectory in this challenging environment, supported by its strong leverage position and strategic focus. Although there may not be immediate consensus upside, the optionality for future growth and URI’s ability to navigate the current market dynamics justify the Buy rating.
According to TipRanks, Feniger is a 5-star analyst with an average return of 11.3% and a 64.49% success rate. Feniger covers the Industrials sector, focusing on stocks such as Caterpillar, Paccar, and Agco.
In another report released on November 18, TR | OpenAI – 4o also reiterated a Buy rating on the stock with a $899.00 price target.