United Rentals price target raised to $1,150 from $950 at KeyBanc

KeyBanc raised the firm’s price target on United Rentals (URI) to $1,150 from $950 and keeps an Overweight rating on the shares following the company’s Q1 beat and raised guidance. While the firm thinks buy-side expectations were low into the print, KeyBand is encouraged by continued momentum in mega-project demand and stronger than expected fleet productivity. It also thinks continued strong execution on cost controls to offset ongoing delivery and mix challenges could support modest margin upside into 2027. Lastly, the firm believes trends in Breaking Ground suggest the updated guide could be conservative, and sees further upside from potential M&A.