United Rentals price target raised to $880 from $840 at Argus

Argus raised the firm’s price target on United Rentals (URI) to $880 from $840 and keeps a Buy rating on the shares. Argus is comfortable with United Rentals’ ability to navigate the high-inflation economic environment, as well as with its adoption of new technology that will help it to operate more efficiently, the analyst tells investors in a research note. Lower interest rates should boost growth further as customers experience favorable conditions to expand projects, and the company’s recent productivity investments and acquisitions to benefit revenue and earnings, Argus argues.