Hertz (HTZ): Positive Read-Through from United Rentals (URI) Results, Says Wells Fargo

United Rentals, Inc. (NYSE: URI) results have a positive read-through for Hertz Global (NYSE: HTZ), said analyst Richard M. Kwas of Wells Fargo.

"URI's Q1 performance exceeded expectations. Volume and rate were solid, in our opinion. Adjusted EBITDA flow-through was 87% (consensus was 67%) compared to 110% last quarter. The results are a positive read-through for HTZ's equipment rental unit, in our opinion. URI will host a conference call today (4/17) at 11AM ET to discuss its Q1 results. The dialin number is (866) 238-1422. On the call, we expect URI management to provide more color on industry demand and pricing trends, which could affect HTZ share price behavior. We note URI's commentary about demand was positive in the release. We reiterate our Outperform rating on HTZ shares. We believe HTZ will report Q1 results in early May," said Kwas.

Wells Fargo has an Outperform rating on Hertz Global.

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 $27.37 yesterday.

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