** Citi Research starts coverage on industrial equipment rental company Herc Holdings HRI.N with "buy" rating
** Brokerage sets PT at $165, representing ~18% upside to the stock's last close
** "We view valuation as attractive at current levels and think a strong case can be made for multiple expansion as deal synergies are captured and HRI pays down debt from the H&E deal over the next few years" - Citi
** Brokerage adds that HRI will capture 100% of its targeted cost synergies and 75% of its targeted revenue synergies from the pending H&E acquisition
** Says concerns about co's leverage post the H&E deal may be overblown
** Five of 9 brokerages rate stock "buy" or higher, 3 "hold", and 1 "sell"; their median PT is $241 - according to data compiled by LSEG
** Stock down ~28.4% YTD, as of last close; HRI rose ~27.2% in 2024
(Reporting by Ateev Bhandari in Bengaluru)
((Ateev.Bhandari@thomsonreuters.com;))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.