UBS downgraded H&E Equipment (HEES) to Neutral from Buy with a price target of $92, up from $60, to reflect the acquisition of the company by United Rentals (URI). Given the size of the deal, the firm’s base case is that there would not be a competing offer from another rental company.
Maximize Your Portfolio with Data Driven Insights:
- Leverage the power of TipRanks' Smart Score, a data-driven tool to help you uncover top performing stocks and make informed investment decisions.
- Monitor your stock picks and compare them to top Wall Street Analysts' recommendations with Your Smart Portfolio
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on HEES:
- Lilly cuts FY24 outlook, United Rentals to acquire H&E: Morning Buzz
- United Rentals Signs Massive $4.8B Deal to Acquire H&E Equipment Services
- Morning Movers: H&E skyrockets following deal to be acquired by United Rentals
- H&E Equipment Services Merges with United Rentals
- United Rentals sees H&E Equipment deal accretive to EPS in first year post-close