Credit Suisse Downgrades Hertz Global (HTZ) to Neutral
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April 11, 2016 1:19 PM EDT
MKM Partners maintained a Buy rating on Hertz Global (NYSE: HTZ), and cut the price target to $16.00 (from $17.00), following the close of first quarter revenues. HTZ lowered U.S. car rental revenue guidance, however, MKM believes that HERC and International car rental are... More
April 11, 2016 9:35 AM EDT
Deutsche Bank maintained a Buy rating on Hertz Global (NYSE: HTZ) with a price target of $18. Earlier Hertz lowered Q1 and FY guidance. In the view of analyst Chris Woronka, Q1 was was already expected to be weak.
"This morning, HTZ pre-announced expectedly soft 1Q16 U.S. rental car metrics and cut full-year revenue guidance for that segment as well. However, the company maintained its prior FY16 Adjusted EBITDA guidance of $1.6-$1.7bn and provided FY16 EPS of $0.95-$1.10... More
April 11, 2016 7:33 AM EDT
Hertz Global Holdings, Inc. (NYSE: HTZ) said today that, due to what the company believes is excess industry capacity, it now expects its first quarter and full year 2016 U.S. car rental (U.S. RAC) revenue and consolidated first quarter adjusted earnings per share to be lower than previously expected. Despite this reduction, the company is affirming its full-year 2016 adjusted Corporate EBITDA* guidance within a... More
