United Rentals falls, levels to watch The chart has taken a notably bearish turn in recent weeks and today's downside has taken out a basing attempt by the stock around the $90 area. At the current price of $87.60, next support is at $87.20 and then at $86.32. Resistance is at $88.91. Macquarie downgraded the stock to Underperform, with an $80 price target.
On The Fly: Analyst Downgrade Summary Today's noteworthy downgrades include: AIG (AIG) downgraded to Hold from Buy at Deutsche Bank... Alumina (AWCMY) downgraded to Neutral from Outperform at Credit Suisse... Avalanche Biotechnologies (AAVL) downgraded on lack of catalysts at SunTrust... DealerTrack (TRAK) downgraded to Hold from Buy at Craig-Hallum... Greenbrier (GBX) downgraded to Hold from Buy at Stifel... Methode Electronics (MEI) downgraded to Neutral at Baird... Profire Energy (PFIE) downgraded to Hold from Buy at Maxim... Standard Pacific (SPF) downgraded to Neutral from Outperform at Credit Suisse... The Fresh Market (TFM) downgraded to Sell from Neutral at Northcoast... Twitter (TWTR) downgraded to Neutral at MKM Partners on stalled user growth... United Natural Foods (UNFI) downgraded to Hold from Buy at Argus... United Rentals (URI) downgraded to Underperform from Neutral at Macquarie.
United Rentals downgraded to Underperform from Neutral at Macquarie Macquarie downgraded United Rentals to Underperform with a $80 price target. The firm believes 2015 and 2016 expectations remain too high given weakness in oil and gas downstream markets. The firm expects management to cut utilization and rental rate guidance in Q2 or Q3 and remains cautious on shares.