Hertz Stock Could Triple According To Jana Partners Manager

Shares of Hertz Global Holdings, Inc. HTZ spiked up briefly Wednesday afternoon following comments from Barry Rosenstein of the Jana Partners hedge fund.

Speaking at the EnTrust Investment Summit in New York, Rosenstein expected Hertz will report financial results by June that will allow the company to buy back as much as 20 percent of its shares, according to a Bloomberg report.

"Rosenstein said Hertz could double earnings per share over the next couple of years and the stock could triple," a source told Bloomberg.

Hertz Global Holdings, Inc. drifted lower after the news report and closed at $21.60, down 0.51 percent.