Hertz Global's (HTZ) Price Target Raised to $27 at Deutsche Bank

Deutsche Bank maintained a Buy rating on Hertz Global (NYSE: HTZ) and raised its price target to $27.00 (from $24.00). Analyst Chris Woronka continues the believe the stock will gain momentum following the company's recent update.

"Following HTZ's release of quarterly financials for 2014 and 1Q15, we have reconstructed our model and updated our forecasts. We continue to see HTZ re-achieving prior peak (2013) EBITDA of $2.0bn in 2017, while still assuming just 1% U.S. pricing growth in 2016 and 2017. We were pleased with what we heard on Friday's conference call and reiterate our Buy rating. While it's understandable that some will continue to question the health of the U.S. rental car industry and HTZ's ability to stage an ambitious turnaround, we believe there are multiple scenarios under which the stock gains momentum, as sentiment remains quite depressed even as catalysts come into view," said Woronka.

For an analyst ratings summary and ratings history on Hertz Global click here. For more ratings news on Hertz Global click here.

Shares of Hertz Global closed at $19.01 yesterday.

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