KeyBanc Starts McGrath Rentcorp (MGRC) at Buy; High Quality Way to Own an Equipment Rental Firm at Attractive Valuation

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KeyBanc initiates coverage on McGrath Rentcorp (NASDAQ: MGRC) with a Buy. PT $28.00.

KeyBanc analyst says, "As a result of the following catalysts, we believe the risk/reward profile is attractive and justifies our BUY rating: CATALYST #1: Non-Legacy Businesses Foster Upside Until Mobile Modular Recovers...CATALYST #2: Flock to Quality at a Reasonable Price...CATALYST #3: MGRC’s Dry Powder and Track Record Imply Further Value Creation Opportunities...CATALYST #4: Sum-of-the-Parts Suggests Units Worth 19-32% Above Current Levels."

For more ratings news on McGrath Rentcorp click here and for the rating history of McGrath Rentcorp click here.

Shares of McGrath Rentcorp closed at $23.35 yesterday, with a 52 week range of $19.93-$29.21.

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