Goldman Sachs Upgrades Sunbelt Rentals to 'Buy' Amid Strong Q1 Earnings

Sunbelt Rentals has received an upgrade from Goldman Sachs to 'Buy' on strong first-quarter results. The company's performance exceeded expectations, driven by strong demand across specialty rental, modular solutions, and large project work.

The upgrade follows record-breaking quarterly results for Sunbelt Rentals, with adjusted earnings of $1.18 per share on revenue of $3.12 billion. This outpaced consensus estimates, leading to a revised full-year outlook from the company.

Goldman Sachs forecasts 10% organic rental revenue growth in fiscal year 2027 and expects margin recovery. The firm's price target for Sunbelt Rentals is set at $93, implying approximately 29% upside from the current share price of $72.35.