Hertz Global shares are trading higher after Morgan Stanley upgraded the stock from Equal-Weight to Overweight but cut its price target form $16 to $15.
Portfolio Pulse from Benzinga Newsdesk
Hertz Global's stock is trading higher following an upgrade by Morgan Stanley from Equal-Weight to Overweight, despite a reduction in the price target from $16 to $15.
January 18, 2024 | 2:33 pm
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POSITIVE IMPACT
Hertz Global's stock is likely to experience a positive short term impact due to the upgrade from Morgan Stanley to Overweight, signaling increased confidence in the company's prospects.
Upgrades by prominent analysts like Morgan Stanley can lead to increased investor confidence and a positive short term reaction in the stock market. Although the price target was reduced, the upgrade to Overweight suggests a bullish outlook which typically outweighs the negative sentiment from a lower price target.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100