UPDATE: Oppenheimer Starts General Finance Corporation (GFN) at Outperform

Oppenheimer initiated coverage on General Finance Corporation (NASDAQ: GFN) with an Outperform rating and a price target of $8.00. Analyst Scott Schneeberger thinks the company as an under the radar opportunity, and he sees an attractive entry.

"Via its Pac-Van segment, GFN is one of few sizable (long-lived) portable storage container rental/ sales companies in the fragmented US market. It's also the perceived leader in Australia/New Zealand via its >50% ownership in Royal Wolf (RWH). GFN's gradually increasing its business model mix toward (higher margin) rentals in both geographies. It has accelerated this process via its 4/7/14 acquisition of Texas-based Lone Star, which rents liquid containment tanks. Although Lone Star's upstream oil & gas business has recently been hindered by lower oil prices, it appears to be reflected in GFN's stock price creating an opportune entry point," said Schneeberger.

For an analyst ratings summary and ratings history on General Finance Corporation click here. For more ratings news on General Finance Corporation click here.

Shares of General Finance Corporation closed at $5.90 yesterday.

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