B of A Securities Downgrades Hertz Global Holdings to Underperform, Lowers Price Target to $3
Portfolio Pulse from Benzinga Newsdesk
B of A Securities analyst John Babcock downgraded Hertz Global Holdings (HTZ) from Neutral to Underperform and reduced the price target from $9 to $3.

April 26, 2024 | 11:02 am
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NEGATIVE IMPACT
Hertz Global Holdings was downgraded by B of A Securities from Neutral to Underperform, with a significant reduction in the price target from $9 to $3.
The downgrade by a major analyst like B of A Securities, coupled with a drastic reduction in the price target, is likely to negatively impact investor sentiment towards Hertz Global Holdings. This could lead to a decrease in stock price in the short term as the market adjusts to the new valuation and expectations.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100