In a report released today, Michael Feniger from Bank of America Securities reiterated a Buy rating on United Rentals (URI – Research Report), with a price target of $750.00.
Michael Feniger has given his Buy rating due to a combination of factors that highlight United Rentals’ strengths and market position. The company demonstrates significant flexibility and resilience, which are crucial advantages in the current economic climate. Despite a slowing economy, United Rentals is not experiencing a major shift in its business, with customer sentiment remaining positive.
Furthermore, the company’s specialty segment, which accounts for a substantial portion of sales, is a key driver for growth and provides a competitive edge. United Rentals’ strong balance sheet and ability to adjust operational and capital expenditures offer additional stability. Compared to its peers, United Rentals is well-positioned with a lower leverage ratio and a strategic approach to navigating market challenges, supporting the Buy rating.
Based on the recent corporate insider activity of 55 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of URI in relation to earlier this year.