UBS analyst Steven Fisher upgraded United Rentals to Buy with an unchanged price target of $196. The analyst sees a favorable risk/reward profile with the shares down 20% over the last three months. Better margin performance in Q2 through Q4 and cash deployment over the next 12-18 months are the main catalysts to drive upside from current share levels, Fisher tells investors in a research note. He expects the company to improve cost recovery this year and sees evidence that strength in its end markets will continue.
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