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Investing.com - RBC Capital downgraded Ashtead Group Plc (LON:AHT) (OTC:ASHTY), a $30.7 billion equipment rental company with $10.8 billion in annual revenue, from Sector Perform to Underperform with a price target of GBP46.00 on Friday. According to InvestingPro data, the company maintains a strong financial health score and has consistently paid dividends for 20 consecutive years.
The downgrade comes amid multiple concerns identified by the investment firm, including cost headwinds and chronic overcapacity across the wider equipment market. Despite these challenges, InvestingPro analysis shows the company has delivered a robust 28.39% return over the past six months, with Fair Value calculations suggesting the stock may be slightly undervalued. Get access to 4 more exclusive ProTips and detailed financial metrics with InvestingPro.
RBC Capital also cited potential heightened competition from EquipmentShare, which according to an unconfirmed Bloomberg report, is considering an initial public offering.
Additional factors behind the rating change include imbalances in index selling and buying, as well as concerns about the state of the U.S. residential construction market with potential knock-on impacts on non-residential construction.
The firm maintained its price target of GBP46.00 for Ashtead Group , noting that its estimates remain below consensus due to these market challenges.
In other recent news, Bernstein has reiterated its Outperform rating on Ashtead Group. The firm’s research note highlights a price target of GBP61.50 for the company. Ashtead Group’s shares have reportedly increased by nearly 25% since the release of its fourth-quarter 2025 results in June. Analysts at Bernstein have expressed optimism about the company’s future, citing positive developments described as "green shoots" that may support further growth. These recent developments reflect continued confidence in Ashtead Group’s performance and prospects.
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