Oppenheimer Sees Another Strong Year for United Rentals (URI), PT Raised
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Price: $58.68 +2.07%
Rating Summary:
9 Buy, 2 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Rating Summary:
9 Buy, 2 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Trade URI Now!
Oppenheimer lifted its price target on Outperform-rated United Rentals (NYSE: URI) from $55 to $60, saying they anticipate 2013 will be another strong year.
"URI has outperformed primary benchmarks the past three years, and we anticipate the trend to continue via multiple drivers, including: 1) its leading position in an
industry benefiting from a secular tailwind (customers renting vs. buying); 2) a potential boost from a pending non-residential construction rebound; and 3) the opportunity to derive incremental RSC Holdings integration revenue/cost savings synergies as it continues to enhance overall efficiency via improved operational processes/systems. Additionally, as URI swings to a significant FCF generator in 2013 ($400-500M guidance), debt/EBITDA should drop below 3x by 12/31/13. This enhances financial flexibility, reduces volatility, and should draw incremental
investors."
For an analyst ratings summary and ratings history on United Rentals click here. For more ratings news on United Rentals click here.
Shares of United Rentals closed at $48.25 yesterday, with a 52 week range of $26.88-$49.73.
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"URI has outperformed primary benchmarks the past three years, and we anticipate the trend to continue via multiple drivers, including: 1) its leading position in an
industry benefiting from a secular tailwind (customers renting vs. buying); 2) a potential boost from a pending non-residential construction rebound; and 3) the opportunity to derive incremental RSC Holdings integration revenue/cost savings synergies as it continues to enhance overall efficiency via improved operational processes/systems. Additionally, as URI swings to a significant FCF generator in 2013 ($400-500M guidance), debt/EBITDA should drop below 3x by 12/31/13. This enhances financial flexibility, reduces volatility, and should draw incremental
investors."
For an analyst ratings summary and ratings history on United Rentals click here. For more ratings news on United Rentals click here.
Shares of United Rentals closed at $48.25 yesterday, with a 52 week range of $26.88-$49.73.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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