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RSC Holdings sees bottom in construction business: report

NEW YORK
Sun Jul 12, 2009 4:28pm EDT

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NEW YORK (Reuters) - RSC Holdings Inc (RRR.N) said its non-construction industrial clients, such as food processing and petrochemicals customers, are spending more on maintenance and repair services, helping support company revenue, Barron's reported on Sunday.

Crisis in Credit  |  Economy

"The construction industry is far from recovery, but we think we've found the bottom in our business." Erik Olsson RSC Holdings chief executive told Barron's business newspaper.

Morgan Stanley analyst Vance Edelson has a 12-month $15 price target on shares of the U.S.'s second-largest construction-equipment rental outfit, according to Barron's.

Shares of RSC Holdings closed at $6 on Friday.

(Reporting by Chelsea Emery; Editing by Diane Craft)
Crisis in Credit
Economy


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