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HTZ

Hertz

$15.66

-0.24 (-1.51%)

09:30
08/07/18
08/07
09:30
08/07/18
09:30

Morgan Stanley doesn't expect lower fleet cost to last at Hertz

Morgan Stanley analyst Adam Jonas said lower fleet cost "saved the quarter" for Hertz, but he does not expect that to last. The analyst, who notes there is still no guidance from the company, remains cautious on the transportation network company business and still sees Hertz having a secularly challenged business model, exposure to rising rates, and high leverage. He keeps an Underweight rating on Hertz shares.

  • 07

    Aug

HTZ Hertz
$15.66

-0.24 (-1.51%)

01/18/18
MACQ
01/18/18
UPGRADE
MACQ
Outperform
Hertz upgraded to Outperform on improving industry trends at Macquarie
Macquarie analyst Hamzah Mazari upgraded Hertz to Outperform and raised its price target to $30 from $26. Mazari is more bullish on 2018 rental car pricing given fleet cutting by Enterprise, the positive impact on corporate travel from tax reform, and the potential US infrastructure bill creating excess demand. For Hertz specifically, Mazari said expectations are low, investment spending is rolling off, and the industry is operating as a more "functional oligopoly."
01/18/18
01/18/18
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Walmart (WMT) upgraded to Conviction Buy from Neutral at Goldman Sachs with analyst Matthew Fassler saying selling consumables to middle-income consumers in small markets remains a compelling strategic position. 2. Hertz (HTZ) upgraded to Outperform from Neutral at Macquarie with analyst Hamzah Mazari saying he is more bullish on 2018 rental car pricing given fleet cutting by Enterprise, the positive impact on corporate travel from tax reform, and the potential US infrastructure bill creating excess demand. For Hertz specifically. 3. Alarm.com (ALRM) upgraded to Buy from Hold at Jefferies analyst John DiFucci saying Alarm.com is at the forefront of the trend towards connected homes and devices. 4. PPL Corp. (PPL) upgraded to Buy from Hold at Deutsche Bank with analyst Jonathan Arnold saying the current valuation is "too cheap to ignore," and U.K. energy regulator Ofgem failing to implement a mid-period review of RIIO-ED1 offers "decent prospects for a near-term re-rating catalyst." 5. Fluor (FLR) upgraded to Outperform from Neutral at Credit Suisse with analyst Jamie Cook saying investors will gravitate back to Engineering & Construction stocks as fundamentals for the group are improving. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
02/28/18
MSCO
02/28/18
NO CHANGE
MSCO
Underweight
Hertz lack of 2018 guidance shouldn't be a surprise, says Morgan Stanley
Morgan Stanley analyst Adam Jonas said the fact that Hertz management did not provide financial guidance for 2018 should not be a surprise as the car rental industry "doesn't grow" and the company has total debt "far greater" than its total revenue. He believes management commentary on 2018 suggests elevated turnaround and transition expenses will continue before an improvement in 2019. Jonas, who still thinks Hertz may need to consider significant structural changes given the challenges facing the traditional car rental business model, keeps an Underweight rating on Hertz shares.
06/26/18
MSCO
06/26/18
INITIATION
Target $30
MSCO
Underweight
Avis Budget resumed with an Underweight at Morgan Stanley
Morgan Stanley analyst Adam Jonas resumed coverage of Avis Budget (CAR) with an Underweight rating and $30 price target, as he believes the company, and the U.S. car rental industry, may have a hard time raising prices sufficiently to offset rising vehicle depreciation costs. Both Avis and Hertz (HTZ) are "heavily dependent" on the used car market and credit environment, said Jonas, who also reiterated an Underweight rating on Hertz, though he increased his price target on its shares to $15 from $13.

TODAY'S FREE FLY STORIES

AMZN

Amazon.com

$1,883.50

8.05 (0.43%)

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SPX

S&P 500

$0.00

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, SPY

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$286.28

0.6 (0.21%)

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FB

Facebook

$172.65

0.15 (0.09%)

, FEYE

FireEye

$14.57

0.135 (0.94%)

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FEYE

FireEye

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SE

Sea Limited

$14.31

0.47 (3.40%)

19:06
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Earnings
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URBN

Urban Outfitters

$47.75

0.23 (0.48%)

, LZB

La-Z-Boy

$33.03

0.675 (2.09%)

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URBN

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LZB

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$33.03

0.675 (2.09%)

KEYS

Keysight Technologies

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0.28 (0.47%)

PSTG

Pure Storage

$22.03

0.23 (1.06%)

MYGN

Myriad Genetics

$42.83

0.9 (2.15%)

ZNGA

Zynga

$3.75

0.01 (0.27%)

STAR

iStar

$10.06

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FLEX

Flex

$13.80

0.17 (1.25%)

OCUL

Ocular Therapeutix

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0.07 (1.16%)

SMCI

Super Micro Computer

$18.45

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GSM

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0.09 (1.12%)

RRGB

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$40.15

0.4 (1.01%)

NBEV

New Age Beverages

$1.59

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HA

Hawaiian Holdings

$43.70

-0.25 (-0.57%)

JILL

J.Jill

$6.85

-0.77 (-10.11%)

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  • 22

    Aug

TMUS

T-Mobile

$66.57

0.71 (1.08%)

, S

Sprint

$6.18

0.01 (0.16%)

18:43
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18:43
Periodicals
T-Mobile asks smaller carriers to publicly support Sprint deal, Reuters says »

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TMUS

T-Mobile

$66.57

0.71 (1.08%)

S

Sprint

$6.18

0.01 (0.16%)

DTEGY

Deutsche Telekom

$0.00

(0.00%)

SFTBF

SoftBank

$0.00

(0.00%)

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  • 10

    Sep

AOI

Alliance One

$18.10

0.25 (1.40%)

18:32
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Alliance One approves names change to Pyxus Intl and changes board leadership »

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  • 12

    Sep

HA

Hawaiian Holdings

$43.70

-0.25 (-0.57%)

18:01
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Hawaiian Airlines to suspend Beijing service »

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  • 06

    Sep

AL

Air Lease

$46.32

0.69 (1.51%)

18:01
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Air Lease VP Marc Baer sells 10K shares of company stock »

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  • 06

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CAAP

Corporacion America Airport

$8.82

-0.005 (-0.06%)

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  • 22

    Aug

GLD

SPDR Gold Trust

$113.02

0.35 (0.31%)

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SPDR Gold Trust SPDR Gold Trust holdings fall to 768.70MT from 772.24MT »

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PEB

Pebblebrook Hotel

$39.18

0.17 (0.44%)

, LHO

LaSalle Hotel

$34.45

-0.1 (-0.29%)

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PEB

Pebblebrook Hotel

$39.18

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LHO

LaSalle Hotel

$34.45

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BX

Blackstone

$36.49

-0.31 (-0.84%)

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ZNGA

Zynga

$3.75

0.01 (0.27%)

, DIS

Disney

$112.38

0.39 (0.35%)

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ZNGA

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$3.75

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DIS

Disney

$112.38

0.39 (0.35%)

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  • 06

    Sep

SPX

S&P 500

$0.00

(0.00%)

, SPY

SPDR S&P 500 ETF Trust

$286.28

0.6 (0.21%)

17:26
08/21/18
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Periodicals
Cohen pleads guilty to campaign finance violations, other charges, AP says »

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SPX

S&P 500

$0.00

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SPY

SPDR S&P 500 ETF Trust

$286.28

0.6 (0.21%)

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KTOS

Kratos Defense

$13.14

0.18 (1.39%)

17:23
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Kratos Defense awarded $109M U.S. Air Force contract »

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  • 13

    Sep

LMT

Lockheed Martin

$324.20

0.06 (0.02%)

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HOLX

Hologic

$38.48

0.23 (0.60%)

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  • 21

    Aug

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STAR

iStar

$10.06

-0.04 (-0.40%)

, SHLM

A. Schulman

$44.00

(0.00%)

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STAR

iStar

$10.06

-0.04 (-0.40%)

SHLM

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$44.00

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LYB

LyondellBasell

$114.94

0.95 (0.83%)

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  • 05

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BTE

Baytex Energy

$2.98

0.125 (4.38%)

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Baytex Energy and Raging River Exploration receive approvals for transaction »

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SPX

S&P 500

$0.00

(0.00%)

, SPY

SPDR S&P 500 ETF Trust

$286.28

0.6 (0.21%)

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Breaking Periodicals news story on S&P 500, SPDR S&P 500 ETF Trust »

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WAB

Wabtec

$110.40

0.2 (0.18%)

17:11
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Hot Stocks
Wabtec's Brooks sells 20,000 common shares »

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  • 06

    Nov

ADI

Analog Devices

$95.95

2.23 (2.38%)

17:02
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Hot Stocks
Analog Devices reinstates buyback, boosts authorization by $2B »

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  • 22

    Aug

SGBX

SG Blocks

$4.02

0.07 (1.77%)

17:02
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Hot Stocks
Breaking Hot Stocks news story on SG Blocks »

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AFG

American Financial Group

$113.48

-0.315 (-0.28%)

17:01
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Hot Stocks
American Financial Group raises dividend 14% to $1.60 »

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  • 05

    Sep

AGN

Allergan

$191.19

0.42 (0.22%)

17:01
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Allergan receives CRL from FDA for ulipristal acetate NDA »

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  • 05

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