Morgan Stanley places $85 target on Sunbelt Rentals U.S. shares

Morgan Stanley analyst Annelies Vermeulen placed an Overweight rating and $85 price target on the U.S. shares of Sunbelt Rentals (SUNB). The firm also raised its price target on the London-listed shares to 6,400 GBp from 6,200 GBp after updating estimates for the Q3 results and updated FY26 guidance, restructuring its model for U.S. GAAP, and outlining expectations for the investor day on March 26. The company’s structural growth story is intact and valuation is “undemanding,” the analyst tells investors.