Soleil Securities Initiates Coverage on United Rentals (URI) with a Sell
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Soleil Securities initiates coverage on United Rentals, Inc. (NYSE: URI) with a Sell. Price target $14.
Soleil analyst says, "While management is now aggressively focused on materially improving margins, we just think major reorganizations take time to implement, providing investors with many buying oportunities. Near term guidance and consensus earnings estimates appear too high, given the macro economic uncertainty in the debt and construction markets, competitors' guidance, and threats by other industry players...Price target $14, with the bear case value E$10, assuming poorer earnings and lower multiples, and the bull case value E$22 with some good news on the macro environment."
United Rentals, Inc. (United Rentals) is an equipment rental company. During the year ended December 31, 2007, excluding its traffic control operations, the Company’s network consisted of 697 rental locations in the United States, Canada and Mexico.
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