Morgan Stanley starts coverage on United Rentals (URI +6%) at Overweight with a $46 price...

|By:, SA News Editor

Morgan Stanley starts coverage on United Rentals (URI +6%) at Overweight with a $46 price target, saying the acquisition of RSC Holdings creates "an industry leader" poised to capitalize on multiple favorable secular trends and an awaited recovery in U.S. construction. The firm's channel checks lead it to expect a strong Q2 and for deal synergies to kick in almost immediately.