UPDATE: Morgan Stanley Reiterates On Hertz Global Holdings On Fake Oligopoly

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

, but removed the $19.00 price target. In the report, Morgan Stanley noted, “You may have heard the thesis that post the HTZ-DTG combo, US rent-a-car is poised to enter a new era where consumer choice is limited and shareholder returns are maximized. We couldn't disagree more with this thesis. The consumer has never had more choices for mobility both on and off airport.” Hertz Global Holdings, Inc. closed on Tuesday at $22.20.