Barclays Cuts Price Targets On These Two Car Rental Companies
Barclays analyst Brian Johnson lowered Hertz Global Holdings Inc (NASDAQ: HTZ) price target to from $28 and maintained an Overweight rating on the shares.
The analyst also lowered Avis Budget Group Inc (NASDAQ: CAR) price target to 8 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
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.
Latest Ratings for HTZ
Jan 2022 | Barclays | Maintains | Overweight | |
Jan 2022 | Oppenheimer | Initiates Coverage On | Outperform | |
Dec 2021 | Barclays | Initiates Coverage On | Overweight |
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