Custom Truck One Source initiated with an Overweight at Cantor Fitzgerald

Cantor Fitzgerald analyst Manish Somaiya initiated coverage of Custom Truck One Source (CTOS) with an Overweight rating and $11 price target The company is entering a more favorable phase of earnings quality, free cash flow generation, and deleveraging, supported by its vertically integrated “one-stop-shop” model across manufacturing, rentals, sales, and aftermarket services, the analyst tells investors in a research note. Its broad platform serving utility, infrastructure, telecom, and rail end-markets is seen as a key driver of customer retention and share-of-wallet gains, Cantor adds.