Jefferies Reiterates Buy on United Rentals (URI) Following a 2Q Beat

Jefferies reiterated a Buy rating and $80.00 price target on United Rentals (NYSE: URI) following the company's 2Q earnings report. URI reported revenues flat Y/Y at $1.4bn. EPS rose 6% Y/Y to $2.06, an 11% beat on $1.85 street consensus.

Analyst Justin Jordan commented, "$679m 16Q2 EBITDA was 1% cons beat with -2.4% 16Q2 rental rates (beat on -3.7% cons expectations). With May and June sequential rate improvement, URI raised 2016 rental rate expectation by 1% to -2 to -3%. Whilst maintaining $2.65B-$2.75B 2016 EBITDA guidance: if positive 16Q2 momentum sustained in 16H2, Jeff see possible guide up later in year. URI +7% in post-mkt trading. Earnings Call: Thursday July 21 at 11:00am ET. Dial-in: 866-764-6147."

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 $69.86 yesterday.

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