UPDATE: Morgan Stanley Reiterates On Hertz Global Holdings, Inc. on Multiple Challenges Ahead

In a report published Tuesday, Morgan Stanley analyst Adam Jonas reiterated an Underweight rating on

, but removed the $19.00 price target. In the report, Morgan Stanley noted, “The departure of HTZ's Chairman and CEO came far earlier than the market had anticipated. Investors are left pondering what this means for the underlying financial condition of HTZ and prospects for improved pricing behavior by the oligopoly. We see more profound industry pressures that keep us UW.” Hertz Global Holdings closed on Monday at $28.50.