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ASHTF - Ashtead Group: Rating Downgrade On Near-Term Uncertainty
Ashtead Group Plc
2025-03-18 08:40:58 ET
Summary
Downgrade Ashtead Group to hold due to near-term uncertainties, despite maintaining a positive long-term outlook anchored on achieving FY29 adj EBITDA targets.
Weak US rental trends, macro risks, and potential tariff impacts create headwinds, affecting investor sentiment and delaying rental demand recovery.
Valuation remains depressed, reflecting market concerns; a wait-and-see approach is recommended until clearer growth inflection evidence emerges.