Berenberg Starts McGrath Rentcorp (MGRC) at Buy
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Berenberg analyst Sam England initiates coverage on McGrath Rentcorp (NASDAQ: MGRC) with a Buy rating and a price target of $70.00.
The analyst comments "McGrath operates three discrete businesses with different end markets, competitors, and underlying drivers, with few obvious synergies or cross-selling opportunities between them. We believe McGrath has an opportunity to streamline its business by disposing of its electrical testing equipment business TRS-RenTelco and allocating capital to its core mobile modular and tank storage operations."
Shares of McGrath Rentcorp closed at $52.80 yesterday.
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