In a report published Thursday, Morgan Stanley analyst Adam Jonas reiterated an Underweight rating on Hertz Global Holdings, Inc. HTZ, but removed the $19.00 price target.
In the report, Morgan Stanley noted, “A common theme we hear from investors is that car rental is much less competitive following the 4-to-3 consolidation and that prices can rise far more as long as everyone gets along. One investor recently told us: ‘HTZ is the easiest CEO job in the world.' We have our doubts.”
Hertz Global Holdings closed on Wednesday at $27.70.
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