RBC Capital analyst Seth Weber lowered his price target on United Rentals to $188 after its Q3 results, citing the "optics" of slowing rate growth and suspended buyback program amid speculation around "industry capacity" and peak cycles. The analyst also keeps his Outperform rating, noting that the company's underlying business fundamentals remain "healthy" and capable of supporting capital allocation opportunities. Weber further cites United Rentals' attractive valuation of just 4.6-times his expected FY19 EBITDA prior to the pending Blueline acquisition.
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