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Stock impact report

Morgan Stanley On Caterpillar And United Rental's Stock: 'Time To Leave' [Yahoo! Finance News]

United Rentals, Inc. (URI) 
Last united rentals, inc. earnings: 4/29 04:15 pm Check Earnings Report
Construction-focused companiesCaterpillar Inc.CATUnited Rentals, Inc.URIcoronavirusThe AnalystCourtney YakavonisThe analyst also downgraded United Rentals from Overweight to Equal-Weight with a price target lowered from $154 to $110.The ThesisThe U.S. non-residential construction cycle is likely to be more protracted than previously expected, driven by declines across Commercial, Office, Amusement/Recreation and Lodging construction in addition to state and local budget cuts, Yakavonis wrote in the notes. United Rentals' exposure to the segment stands at 44% while Caterpillar's exposure is at 22%.Yakavonis said Public and Private non-residential construction spends are likely to fall 10% year-over-year in 2020 and another 7% in 2021. The math behind these estimates points to a $400 billion shortfall over three years. But even if an infrastructure stimulus project is announced and/or incremental state and local aid, it will likely still fall short of offsetting the $400 billion shortfa Show less Read more
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