Barclays lifts United Rentals PT on potential of machinery, construction sectors

Barclays lifts PT on equipment rental firm United Rentals URI.N to $620 from $565, a downside of 23.3% from the stock's last close

Rating maintained at 'underweight'

Brokerage says that looking ahead to 2025, the company projects easing supply chain constraints, declining rental rates, and normalization of used equipment values

Says there is growing confidence among investors about the long-term potential of machinery and construction sectors

But adds co's fleet productivity showing signs of weakness in 2025

12 of 23 brokerages rate the stock "buy" or higher, 9 "hold" and 2 "sell"; their median PT is $769 - data compiled by LSEG

As of last close, stock had risen 14.7% YTD