Argus keeps a Buy rating and $650 price target on United Rentals while naming the stock as one of the firm’s 2024 Top Picks. The firm is comfortable with this well-managed company’s ability to navigate the high-inflation economic environment, and likes its adoption of new technology that will help it grow in a post-COVID world, the analyst tells investors in a research note. United Rentals management also has a clear strategy to compound shareholder value by balancing growth, margins, returns, free cash flow, and prudent capital allocation, the firm added.
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