Oppenheimer Sees 27% Upside In Hertz Global

Akanksha Bakshi

Thu, Jan 13, 2022, 8:56 AM1 min read

Oppenheimer analyst Ian Zaffino initiated Hertz Global Holdings Inc (NASDAQ: HTZ) with an Outperform rating and a price target of , implying an upside of 27%.
Zaffino says, with a "meaningfully improved cost structure, an under-levered balance sheet, and newfound competitive discipline," Hertz is an "interesting post-bankruptcy equity."
The analyst says the company has the potential to roughly double its pre-COVID EBITDA margins, even as auto production and the operating environment normalize.
The analyst further believes Hertz management has been "very forward-looking" with the recently signed agreements with Tesla Inc (NASDAQ: TSLA), Carvana Co (NYSE: CVNA), and Uber Technologies Inc (NYSE: UBER). In addition, the company has a "shareholder-friendly" billion buyback program in place.
Zaffino believes the $31 target can be achieved.
Price Action: HTZ shares are trading higher by 0.82% at $24.63 during the premarket session on Thursday.

Latest Ratings for HTZ

Jan 2022	Oppenheimer	Initiates Coverage On	Outperform
Dec 2021	Barclays	Initiates Coverage On	Overweight
Dec 2021	Morgan Stanley	Initiates Coverage On	Equal-Weight

View More Analyst Ratings for HTZ
View the Latest Analyst Ratings

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Oppenheimer Sees 27% Upside In Hertz Global

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