02:40 AM EDT, 03/11/2024 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

We adjust our 12-month target price for URI to $750 from $675, valuing shares at 15.9x our 2025 EPS outlook of $47.18 ($46.52 previously; 2024 EPS estimate kept at $43.71), above URI's historical forward average as we believe a higher multiple is justified as URI benefits from a growing preference for equipment rentals, as well as favorable growth catalysts within nonresidential construction markets, including infrastructure buildout and manufacturing reshoring. The recently announced acquisition of Yak Access provides a new product category for URI to leverage in the company's specialty business, with Yak being a leader in the North American matting industry. Yak maintains a large portfolio of hardwood, softwood, and composite mats that provide surface protection across both construction and MRO applications. We see the addition further establishing URI as a one-stop-shop for rental equipment and should enable opportunity for cross-selling.