Credit Suisse analyst Anjaneya Singh says that while difficult to assess when exactly the market will normalize, he believes these storms could serve to be net positive impacts for Hertz (HTZ) and Avis Budget (CAR) in the near-term. However, the analyst views the recent rally, which has been driven by headlines, to be overdone. Moreover, Singh believes that the inability of the industry to offset fleet costs via pricing, for the foreseeable future, has not changed. He reiterates a Neutral rating on Avis Budget, and Underperform rating on Hertz.
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