United Rentals price target raised to $950 from $920 at JPMorgan

JPMorgan raised the firm’s price target on United Rentals (URI) to $950 from $920 and keeps an Overweight rating on the shares. The firm attributes the recent outperformance by the machinery group to the passage of the One Big Beautiful Bill that brings back 100% bonus depreciation, delays of several Liberation Day tariffs, and the anticipation of Fidela Reserve rate cuts commencing this year. Historically, the sector has outperformed the broader market leading up to the first rate cut, the analyst tells investors in a research note. JPMorgan recommends increasing exposure to the machinery sector.