Goldman Sachs analyst Jerry Revich double upgraded Herc Holdings (HERC) to Buy from Sell and raised his 12-month price target for the shares to $60 from $37. U.S. construction equipment supply has peaked, rental rates are likely to bottom in coming quarters, consensus estimates have only "modest" risk, and multiple expansion is likely for the Construction Rental group if manufacturing production cuts play out in the coming quarters as expected, Revich tells investors in a research note. The analyst views Herc's cyclical risk/reward as improved and is positive on the company's operational turnaround, including a move towards higher-return product lines. Revich this morning also upgraded United Rentals (URI) to Buy from Neutral.

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Previous view $14.65B-$15.15B.

Notable companies reporting after the market close, with earnings consensus, include Meta Plataforms (META), consensus $4.32... IBM (IBM), consensus $1.60... ServiceNow (NOW), consensus $3.14... Lam Research (LRCX), consensus $7.30... Chipotle Mexican Grill (CMG), consensus $11.68... O'Reilly Automotive (ORLY), consensus $9.26... Ford Motor (F), consensus 42c... United Rentals (URI), consensus $8.32... Align Technology (ALGN), consensus $1.97... Molina Healthcare (MOH), consensus $5.59... Teradyne (TER), consensus 33c... Universa Health Services (UHS), consensus $3.16... Western Union (WU), consensus 41c.