United Rentals slides after JPMorgan downgrade on M&A growth concerns
-3.86% to $989.08 from $1028.77
What moved URI
- JPMorgan downgraded United Rentals to Neutral from Overweight, with analyst Tami Zakaria citing debate over whether the pace of the company’s M&A activity is set to slow.
- The firm said it would revisit its more bullish thesis if United Rentals returns to sizeable M&A that supplements organic growth and reduces cyclicality.
- JPMorgan called United Rentals ‘best-in-class’ given its market share, margin profile and balance sheet, but said its valuation premium over peers already reflects that strength.
Sources: Investing.com · ad-hoc-news.de