AMERCO Inc. (UHAL)
by Zacks Equity ResearchAugust 09, 2010 | Comments : 0 Recommended this article: (0)
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The impact of the decline in housing and a decrease in apartment occupancy rates appears to have ended. We expect continued improvements in operating parameters. Based on a low valuation of EBITDAL, we continue to rate the stock Outperform with a price target of $80.00 a share.
The stock has usually been valued on EBITDAL (EBITDA plus lease expense) per share, selling between two and three times EBITDAL. Based on our estimates for the next four quarters EBITDAL of $36.49 a share, we would expect a price range of $55 to $91. We expect a valuation at the mid-end to high end of the range.
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