Goldman Sachs Upgrades Sunbelt Rentals to 'Buy' with $93 Price Target

Goldman Sachs has upgraded Sunbelt Rentals' stock rating to 'buy' from 'neutral', citing strong first-quarter results that exceeded consensus expectations. The investment firm set a price target of $93.00, representing approximately 29% upside from the current share price of $72.35.

The upgrade follows record first-quarter fiscal 2027 results for Sunbelt Rentals, with adjusted earnings of $1.18 per share on revenue of $3.12 billion. The company's strong performance was driven by demand across specialty rental, modular solutions, and large project work.

Goldman Sachs expects the company to deliver strong top-line growth, forecasting approximately 10% organic rental revenue growth in fiscal year 2027. The firm also anticipates margin recovery, which should drive double-digit earnings per share growth and a re-rating of the stock.