Oppenheimer analyst Scott Schneeberger raised the firm’s price target on McGrath RentCorp (MGRC) to $139 from $124 and keeps an Outperform rating on the shares after hosting meetings with management. The firm says the company’s investment case is strong. It believes McGrath remains an acquisition target due to SEC filings indicating WillScot (WSC) wasn’t the only party making an acquisition bid for the past year. McGrath is a “well-run entity possessing a compelling scarcity value profile to parties seeking a high-quality Specialty Rental operation,” the analyst tells investors in a research note.
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Read More on MGRC:
- McGrath RentCorp management to meet with Oppenheimer
- McGrath RentCorp exec Skenesky sells 5,000 common shares
- McGrath RentCorp price target raised to $124 from $120 at Oppenheimer
- Closing Bell Movers: Deckers up 12% after earnings beat
- McGrath reports Q3 EPS ex-items $1.87, two estimates $3.82
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
