UPDATE: Morgan Stanley Reiterates Underweight Rating, Lowers PT on Hertz Global Holdings on Negative Outlook

In a report published Thursday, Morgan Stanley analyst Adam Jonas reiterated an Underweight rating on Hertz Global Holdings HTZ, but lowered the price target from $20.00 to $19.00. In the report, Morgan Stanley noted, “We are marking to market our earnings forecast to account for HTZ's updated '14 guidance--now expected to be well below its previous guide. Accounting issues aside, we see far greater issues pressuring cons forecasts. Our '15 and '16 ests. remain 10% below cons and we trim our price target to $19.” Hertz Global Holdings closed on Wednesday at $30.74.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
date
ticker
name
Price Target
Upside/Downside
Recommendation
Firm
Posted In: Analyst ColorPrice TargetAnalyst RatingsAdam JonasMorgan Stanley
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!