In a report published Wednesday, Goldman Sachs analyst Afua Ahwoi reiterated a Buy rating on Hertz Global HTZ, but lowered the price target from $30.00 to $27.50.
In the report, Goldman Sachs noted, “Hertz reported better than expected 3Q numbers. However, the shares underperformed the broader market on Tuesday, November 5 (down 10.5% vs. the S&P500 down 0.28%), as the company indicated that US per unit monthly fleet cost would be in the range of $250 to $260 for 2014. Our prior forecasts called for per unit monthly fleet cost of $248 implying a 3% delta vs. the midpoint of management guidance. We believe most investors and the sell-side were below our forecasts.”
Hertz Global closed on Tuesday at $21.30.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
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!
Already a member?Sign in