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BUZZ-Ashtead: hits 6-month low as top-ranked broker double downgrades

Reuters - UK Focus

** BofA Merrill Lynch double downgrade -- to "underperform" vs "buy" -- sends Ashtead to 6-mth lows

** Broker -- rated at five stars for recommendation accuracy on Ashtead, according to StarMine -- concerned rental rate environment weakened in recent months & outlook for further rate growth from current cyclical peak looks increasing unlikely

** BAML basis: shakeout from oil & gas slowdown, weaker commentary from Ashtead's major US competitor United Rentals (NYSE: URI - news) & that elevated levels of new equipment in the supply chain could add pressure to OEM prices and therefore yields

** United Rentals reports Q215 results this week, with broker Jefferies expecting consensus downgrades (RM (LSE: RM.L - news) : tricia.wright1.thomsonreuters.com@reuters.net RM:alasdair.pal.thomsonreuters.com@reuters.net)