Berenberg Starts McGrath Rentcorp (MGRC) at Buy

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."

For an analyst ratings summary and ratings history on McGrath Rentcorp click here. For more ratings news on McGrath Rentcorp click here.

Shares of McGrath Rentcorp closed at $52.80 yesterday.

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