Matt Britzman, senior equity analyst at Hargreaves Lansdown, said: “Equipment rental giant Ashtead’s second-quarter results came in slightly soft, though broadly in line with expectations.
“The headline is a new $1.5 billion buyback, a clear signal of strong cash flows and a welcome boost for sentiment after a year of share price underperformance.
“Softer conditions in the key US market continues to weigh, but lower interest rates and resilient mega-project activity could turn the tide.
“If those trends hold, the story for 2026 looks more attractive.”
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