Morgan Stanley Upgrades Hertz Global Holdings to Overweight, Lowers Price Target to $15
Portfolio Pulse from Benzinga Newsdesk
Morgan Stanley analyst Adam Jonas has upgraded Hertz Global Holdings (HTZ) from Equal-Weight to Overweight, while also lowering the price target from $16 to $15.

January 18, 2024 | 10:10 am
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POSITIVE IMPACT
Hertz Global Holdings was upgraded by Morgan Stanley from Equal-Weight to Overweight, indicating a positive outlook, but the price target was reduced from $16 to $15.
The upgrade to Overweight suggests that Morgan Stanley sees potential for Hertz's stock to outperform the market or its sector, which could lead to increased investor interest and a potential rise in the stock price in the short term. However, the reduction in the price target might temper some of the positive sentiment, as it implies a more conservative valuation than previously estimated.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100