Goldman Sachs analyst Lizzie Dove downgraded Hertz Global Holdings, Inc (HTZ) from Neutral to Sell, lowering the price target from $8 to $7. The downgrade is based on overly optimistic consensus estimates for U.S. and International RPD pricing, the impact of pricing on EBITDA, risks from HTZ's fleet age on pricing and residual values, and pressures from declining used vehicle prices and higher interest rates. Despite a potential $500 million EBITDA opportunity, challenges from EV costs and residual value pressures suggest HTZ is 3-4 years from normalized margins, with no FCF generation expected in 2024. HTZ shares dropped 3.68% to $7.35.