Jefferies Remains Bullish on United Rentals, Inc. (URI) Following Earnings

Jefferies analyst Justin Jordan weighed in on United Rentals, Inc. (NYSE:URI) today after the company posted second quarter earnings.

The company reported flat year-over-year revenue at $1.4 billion and a 6% y/y EPS increase to $2.06, beating the analyst estimate of $1.85. Jordan comments, “With May and June sequential rate improvement, URI raised 2016 rental rate expectation by 1% to -2 to -3%.” The company maintained 2016 EBITDA guidance of $2.65 billion to $2.75 billion, which assumes that the positive second quarter momentum can be sustained into the third quarter.

The analyst reiterates a Buy rating on the company with an $80 price target.

According to TipRanks, Jordan has an 88% success rate recommending stocks with an 11.8% average annual return per rating.

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