Morgan Stanley Downgrades Hertz Global (HTZ) to Underweight

September 14, 2017 5:30 AM EDT
Get Alerts HTZ Hot Sheet
Price: $1.78 --0%

Rating Summary:
    2 Buy, 4 Hold, 6 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 15 | Down: 13 | New: 24
Trade Now! 
Join SI Premium – FREE

News and research before you hear about it on CNBC and others. Claim your 1-week free trial to StreetInsider Premium here.

(Updated - September 14, 2017 5:57 AM EDT)

Morgan Stanley downgraded Hertz Global (NYSE: HTZ) from Equalweight to Underweight with a price target of $14.00 (from $12.00).

Analyst Adam Jonas cites the valuation for the downgrade as shares have tripled in the past three months. He raises his PT following an increase in pricing and volumes after the hurricanes for the H2 2017 and 2018 periods. Jonas remains fundamentally bearish on car rental noting his thesis remains unchanged.

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 $23.93 yesterday.

Serious News for Serious Traders! Try Premium Free!

You May Also Be Interested In

Related Categories

Analyst Comments, Analyst PT Change, Downgrades, Hot Downgrades

Related Entities

Morgan Stanley