Barclays Cuts Price Targets On These Two Car Rental Companies

  • Barclays analyst Brian Johnson lowered Hertz Global Holdings Inc HTZ price target to $26 from $28 and maintained an Overweight rating on the shares.
  • The analyst also lowered Avis Budget Group Inc CAR price target to $168 from $217 and maintained an Underweight rating on the shares.
  • The analyst reduced estimates modestly and points to "what now may be the peak for earnings revisions, near term, in the rental car space."
  • Johnson says, within that backdrop, "valuations appear to be coming in slightly, though we still see room for earnings and multiples to converge."
  • Also Read: Deutsche Bank Upgrades This Mobility Solutions Provider
  • Oppenheimer Sees 27% Upside In Hertz Global
  • Price Action: HTZ shares traded higher by 1.59% at $22.05 and CAR up by 5.21% at $197.47 on the last check Thursday.
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