Oppenheimer Reiterates an 'Outperform' on United Rentals (URI); Overall Outperformance

Oppenheimer reiterates an 'Outperform' on United Rentals (NYSE: URI) price target raised from $49 to $53.

Analyst, Scott Schneeberger, said, "Significantly exceeding rental rate, volume, revenue, EBITDA, and EPS expectations, and appearing synchronized with regard to acquisition integration plans, strong 1Q12 results from URI and RSC Holdings (NYSE: RRR) have 2012 off to a strong start. Furthermore, with both companies appearing to deliver 4Q11/1Q12 results that are likely outpacing the financial guidance provided in the January S-4, as well as alluding to potential upside to integration cost savings and synergies' magnitude and timing, we view URI NewCo's anticipated mid-May pro forma guidance update as an incremental upside catalyst."

Raises FY12 EPS estimate from $2.90 to $3.40, FY13 from $4.30 to $4.50, and FY14 from $5.20 to $5.30.

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 $45.75 yesterday.

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