Morgan Stanley analyst Courtney Yakavonis contends that United Rentals shares have become "too cheap to ignore" after falling nearly 45% since mid-September. She believes the market is underappreciating the potential for modest, but sustained, rate growth in 2019 as well as margin improvements. The stock is currently trading at a level typically only seen when United exhibits either negative organic revenue growth or during periods of declining non-residential growth, which is not the case, noted the investors. She maintains an Overweight rating on United Rentals shares with a $175 price target.
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