Baird analyst David Koning reiterated an Outperform rating and $17 price target on Verra Mobility (VRRA) following the announcement that Hertz (HTZ) customers, as well as customers of the company's Dollar and Thrifty, can now rent a car using a debit card across European countries. In a research note to investors, Koning notes that the countries where debit is now accepted include Belgium, Czech Republic, France, Germany, Italy and the U.K. which, based on World Bank data, represent about 70% of the EU population. The analyst notes that one of the keys to Verra's tolling business is that customers must have a credit or debit card on file to pay for the tolls.

As previously reported, BofA downgraded Hertz to Underperform from Neutral with a price target of $3, down from $9, telling investors that the company's Q1 results "well below" BofA and Street estimates failed to allay concerns about higher fleet costs that are unlikely to meaningfully subside in the near-term. Liquidity is also an increasing concern and while the firm sees the company having multiple levers to manage its liquidity, it expects the company is "likely to end up with more leverage," the analyst added.

BofA downgraded Hertz to Underperform from Neutral with a price target of $3, down from $9.

Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.  1... To see the rest of the story go to thefly.com. See Story Here

Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.  1... To see the rest of the story go to thefly.com. See Story Here