JP Morgan raise United Rentals PT after Q1 earnings beat

JP Morgan raised PT on United Rentals URI.N to $780 from $750 after Q1 earnings beat estimates

The new price target shows a 20.5% upside to the stock's last close

"As momentum builds entering the busy season, supported by backlogs and a strong customer confidence index, the outlook remains positive" - Brokerage

However, the research firm cut co's 2025 adj. EPS forecast to $42.53/share from $43.77/share

"Overall, we are adjusting estimates post the 1Q results and expect potential M&A to present further upside to our current 2025 estimates" - JP Morgan

Brokerage maintained rating of 'overweight'

Co's earnings in line with analyst estimates for two consecutive quarters; URI announced its Q1 results on Wednesday

12 of 23 brokerages rate the stock "buy" or higher, 8 "hold" and 3 "sell"; their median PT is $668 - data compiled by LSEG

As of last close, stock had fallen 8.1% YTD