BlueStone Capital Partners Announces Investment Opinion on United Rentals, Inc.Business Editors NOTE TO EDITORS: The following is an investment opinion issued by BlueStone bluestone, common name for the blue, crystalline heptahydrate of cupric sulfate called chalcanthite, a minor ore of copper. It also refers to a fine-grained, light to dark colored blue-gray sandstone. Capital Partners NEW YORK--(BUSINESS WIRE)--April 17, 2000 BlueStone Capital Partners, L.P. Initiates Coverage on United Rentals with a 1-1 (Outperform - Outperform) Rating Senior Analysts Jeff L. Evans, CFA (Computer Fraud and Abuse Act of 1986) Signed into law in 1986, the CFA was a significant step forward in criminalizing unauthorized access to computer systems and networks. The Act applies to "federal interest computers" that include any system used by the U.S. and Walter V. Nasdeo of BlueStone Capital initiate coverage Initiate coverage (1) Firm is now followed by analysts at a particular securities house; (2) Indication to cover short position by purchasing the underlying stock (this cancels out the short position). of United Rentals Founded in 1997 by eight entrepreneurs, United Rentals, Inc. is the largest equipment rental company in the world, with more than 700 rental locations throughout the United States, Canada, and Mexico. (URI Uri, in the Bible Uri (y  `rī), in the Bible.1 Father of Bezaleel (1.) 2 Father of Geber (2.) 3 Porter. ; NYSE-$14.38) with a 1-1 Outperform-Outperform rating. The intermediate target price is $22.00 and long-term target price of $26.00, according to the analysts. Analyst's Summary - We are initiating coverage of United Rentals, Inc. with a 1-1, Outperform-Outperform rating - Intermediate/long-term term price targets are $22 and $26, respectively, representing 53% and 81% upside from current levels. Price targets are based on a conservative multiple of 10 times our 2000 EPS (Encapsulated PostScript) A PostScript file format used to transfer a graphic image between applications and platforms. EPS files contain PostScript code as well as an optional preview image in TIFF, WMF, PICT or EPSI, the latter being an ASCII-only format. estimate of $2.16 and our 2001 estimate of $2.62, respectively. - URI is the industry leader in the fragmented, fast-growing equipment rental industry, with 10% market share and expected 2000 revenues of $3.1 billion. - The company benefits, in our opinion, from the industry, outsourcing trend, economies of scale and a growing national account base. BlueStone Capital Partners, L.P. is a full-service investment banking and brokerage firm that delivers financial services to emerging growth and medium-size companies worldwide. BlueStone Capital assists clients in maximizing their growth by providing sophisticated investment strategies that are designed to achieve clients' strategic, operating and financial goals. |
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