Keybanc lifts United Rentals rating on strong portfolio, customer mix

Keybanc Capital Markets lifts rating for equipment rental firm United Rentals URI.N

Upgrades to "overweight" from "sector weight" following management team presentation at URI's Specialty Rental Analyst Day

"Management showcased its ability to drive outsized market share gains through leveraging the scale of its industry-leading fleet size and its differentiated one-stop-shop portfolio," said KeyBanc analyst Ken Newman

Brokerage sets price target of $865, representing a 24.3% upside to the stock's last close

Says recent pullbacks in shares pose as "attractive" entry point for investors; stronger mega-project customer mix should support more resilient results

13 of 23 brokerages rate the stock "buy" or higher, eight "hold" and two "sell"; their median PT is $769 - LSEG compiled data

Including session moves, stock had fallen 0.5% YTD