Jim Cramer on United Rentals: “It’s Come Down to a Level Where Now I Think It’s Okay”

United Rentals, Inc. (NYSE:URI) is one of the stocks Jim Cramer offered insights on. A caller asked what they should do with the stock at this point, and Mad Money’s host replied:

“You can hold United Rental. That was just all people turning on the data center that, they heard that Sam Altman and OpenAI was spending too much money, and people were saying, woe is me data center. So it’s come down to a level where now I think it’s okay.”

Stock market reports printed on a sheet of paper. Photo by RDNE Stock Project on Pexels

United Rentals, Inc. (NYSE:URI) provides equipment rental solutions, as it offers machinery such as earthmoving equipment, aerial lifts, and power tools. Additionally, the company rents specialty equipment for trench safety, power generation, HVAC, and fluid management. Cramer mentioned it during the July 21 episode and said:

“Barclays seems to have bought into a theory that we’re heading into recession or something, or at least a capital spending drought. That hasn’t played out. So today, they raised a whole bunch of price targets in the capital goods sector, but they raised them to well below where the stocks are already trading. They took… United Rentals, $565 to $620. Stock’s at $778. The firm even had a Sell on that one. These, those are just plain wrong, and they still need stock to come down a lot.”

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Disclosure: None. This article is originally published at Insider Monkey.