UBS Maintains a 'Buy' on United Rentals (URI); Raising Forward Estimates on Strong Q1
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Price: $1,147.14 -1.52%
Rating Summary:
23 Buy, 9 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 6 | Down: 11 | New: 26
Rating Summary:
23 Buy, 9 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 6 | Down: 11 | New: 26
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UBS maintains a 'Buy' on United Rentals (NYSE: URI) price target raised from $50 to $55.
Analyst, Henry Kirn, said, "URI set a 1Q record for time utilization and adjusted EBITDA, while rental rate growth of 6.3% remained robust. The beat vs. our above-consensus estimates came partly from higher used equipment sales (gross profit $20M above UBSe)...we are raising our 2012E, 2013E and 2014E EPS to $3.50, $4.25 and $5.25, from $3.20, $3.70 and $4.20, respectively. Our estimates do not include the announced RSC acquisition (expected to close 4/30/12)."
"Our Buy rating reflects attractive valuation, solid demand recovery, secular shift to rental from ownership and significant internal operational improvements."
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.
Analyst, Henry Kirn, said, "URI set a 1Q record for time utilization and adjusted EBITDA, while rental rate growth of 6.3% remained robust. The beat vs. our above-consensus estimates came partly from higher used equipment sales (gross profit $20M above UBSe)...we are raising our 2012E, 2013E and 2014E EPS to $3.50, $4.25 and $5.25, from $3.20, $3.70 and $4.20, respectively. Our estimates do not include the announced RSC acquisition (expected to close 4/30/12)."
"Our Buy rating reflects attractive valuation, solid demand recovery, secular shift to rental from ownership and significant internal operational improvements."
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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