RBC Adjusts Ashtead Group Earnings Forecasts After Fiscal H1 Results; Underperform Rating Maintained

04:50 AM EST, 12/12/2025 (MT Newswires) -- RBC Capital Markets revised its model and estimates for Ashtead Group (AHT.L) following the British industrial equipment rental company's fiscal first-half earnings report. In a Thursday note, the research firm adjusted its financial assumptions, raising its adjusted EPS forecast for fiscal 2026 by 1% and lowering its forecast for the following fiscal year by 2%. The stock's underperform rating and price target of 46 pounds sterling were maintained. "This reflects the net of a slightly more cautious view of EBITDA margins, a more benign view of the effective [profit and loss] tax rate and the impact of run rate share buybacks and associated funding costs. We remain ~4.5% below consensus for FY27 earnings," the note said. Analysts affirmed their fundamental view of Ashtead Group amid macro and micro-level concerns, including cost inflation headwinds, industry-constrained pricing power, possible increased competition from EquipmentShare, and the underlying health of the US construction segment, among others.