Sunbelt Rentals Holdings, Inc. Common Stock (NYSE:SUNB) Coverage Initiated at Citigroup

Key Points

• Citigroup initiated coverage on Sunbelt Rentals (NYSE:SUNB) with a Buy rating and an $85 price target, implying about a 17% upside from current levels.
• Multiple brokerages have recently started coverage with mostly positive views—five Buys, one Hold and one Sell—giving an overall consensus of “Moderate Buy” and an average target price of $76.
• SUNB shares opened at $72.61 and were up about 4% on the day, trading within a 52-week range of $68.67 to $76.77.

Investment analysts at Citigroup began coverage on shares of Sunbelt Rentals Holdings, Inc. Common Stock (NYSE:SUNB - Get Free Report) in a research report issued on Monday. The brokerage set a "buy" rating and a $85.00 price target on the stock. Citigroup's target price would indicate a potential upside of 17.06% from the stock's current price.

A number of other equities analysts have also recently issued reports on SUNB. The Goldman Sachs Group assumed coverage on shares of Sunbelt Rentals Holdings, Inc. Common Stock in a research note on Tuesday, March 10th. They issued a "buy" rating and a $83.00 price target on the stock. Barclays started coverage on shares of Sunbelt Rentals Holdings, Inc. Common Stock in a report on Tuesday, March 10th. They issued an "overweight" rating for the company. Weiss Ratings began coverage on Sunbelt Rentals Holdings, Inc. Common Stock in a research report on Thursday, March 5th. They issued a "buy (b)" rating on the stock. Bank of America initiated coverage on Sunbelt Rentals Holdings, Inc. Common Stock in a research note on Monday. They set an "underperform" rating and a $62.00 target price on the stock. Finally, BNP Paribas Exane began coverage on Sunbelt Rentals Holdings, Inc. Common Stock in a report on Monday, March 9th. They issued an "outperform" rating for the company. Five equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $76.00.

Sunbelt Rentals Holdings, Inc. Common Stock Stock Up 4.0%

Shares of SUNB opened at $72.61 on Monday. Sunbelt Rentals Holdings, Inc. Common Stock has a fifty-two week low of $68.67 and a fifty-two week high of $76.77.

Sunbelt Rentals Holdings, Inc is a commercial equipment rental company that supplies a broad range of temporary equipment and related services to construction, industrial, infrastructure and specialty markets across North America. The company provides customers with short- and long-term rentals of equipment used in building, maintenance, emergency response and specialty projects, enabling contractors and facility managers to access machinery and tools without large capital outlays.

Its product portfolio encompasses heavy equipment, material handling and earthmoving machines, aerial work platforms, power generation and temperature-control systems, pumps, dewatering equipment, trench-safety and shoring solutions, and a wide assortment of smaller tools and site-support items.

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