United Rentals (URI) a Buy amid Positive Equipment Rental Survey, Piper Jaffray Says

Piper Jaffray analyst George Tong reiterated an Overweight rating and $112 price target on United Rentals (NYSE: URI) following their proprietary PJC/RER Rental Sentiment Survey in April, where they polled 86 equipment rental executives across North America for their outlook on the industry.

Tong said, "The new data indicate a pickup in construction equipment rental demand, with our Rental Sentiment Index hitting its highest level since Nov 2013. Sentiment has sharply increased over the past 30 days, with 60% of survey participants indicating their industry outlook is slightly or significantly improved compared to the prior month, up from 49% in March."

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 $88.49 yesterday.

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