United Rentals price target lowered to $970 from $1,150 at JPMorgan

JPMorgan lowered the firm’s price target on United Rentals (URI) to $970 from $1,150 and keeps an Overweight rating on the shares post the Q4 report. While the shares will likely not continue to de-rate amid increasing investor interest in owning cyclicals, the stock “may remain in purgatory” near-term until investors find confidence in an acceleration in rental revenue and margin expansion, the analyst tells investors in a research note.