Goldman Sachs Ups Sunbelt Rentals to 'Buy' on Strong Q1 Results
Goldman Sachs has upgraded its rating for Sunbelt Rentals to 'buy' from 'neutral', citing strong first-quarter results that exceeded consensus expectations. The investment bank set a price target of $93.00, representing approximately 29% upside from the current share price of $72.35.
The upgrade is based on Goldman Sachs' expectation of double-digit earnings per share growth and a re-rating of the stock. The firm forecasts around 10% organic rental revenue growth in fiscal year 2027, with margins also expected to recover.
Analysts have revised their earnings estimates upwards for Sunbelt Rentals, supporting the upgrade thesis. KeyBanc, Bernstein SocGen Group, and BofA Securities have all increased their price targets for the company recently.