Goldman Sachs Maintains a 'Neutral' on United Rentals (URI); Reducing Pricing & Fleet Size Forecast

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Goldman Sachs maintains a 'Neutral' on United Rentals (NYSE: URI) price target of $37.00 (from $36.00).

Analyst, Jerry Revich, said, "We reduce our 2012-14 EBITDA estimates by 4% on average driven by reduced pricing forecasts as softening used equipment values point to weaker pricing momentum and capex (see our September 5 note titled
“Rental fleet utilizations point to US Aerial Platform correction in 2013; Sell Oshkosh (NYSE: OSK)”). We have reduced our fleet size estimate by 3.5% in 2013 and 7% in 2014 as we expect URI to prudently cut capex, driving $580 mn of free cash flow in 2013."

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 $37.05 yesterday, with a 52 week range of $15.11-$47.98.

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