Barring a severe recession, shares of United Rentals are undervalued as the company is significantly different now versus prior downturns, UBS analyst Steven Fisher tells investors in a research note. The analyst estimates that a "relatively mild" recession, akin to 2001/2002, could result in a 5%-10% decline in EBITDA, versus the ~20% decline in EBITDA United Rentals experienced in 2002. He believes such a decline is largely priced into United Rentals shares at current levels. The analyst keeps a Buy rating on United Rentals with a $170 price target.

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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.