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.