Oppenheimer Sees Another Strong Year for United Rentals (URI), PT Raised

January 8, 2013 8:36 AM EST
Get Alerts URI Hot Sheet
Price: $110.62 +3.16%

Rating Summary:
    8 Buy, 13 Hold, 3 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 11 | Down: 22 | New: 54
Trade URI Now!
Join SI Premium – FREE
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

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.

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In

Related Categories

Analyst Comments, Analyst PT Change

Related Entities

United Rentals/RSC Holdings

Add Your Comment