Morgan Stanley Downgrades Hertz Global (HTZ) to Equalweight, 'Continued Risks to Strategy'

Morgan Stanley analyst Adam Jonas downgraded Hertz Global (NASDAQ: HTZ) from Overweight to Equalweight with a price target of $10.00 (from $15.00).

The analyst comments "Following 4Q results, follow-up calls with management, channel checks, and further (negative) EV data points, we believe the risks to HTZ's business outlook is more in balance with the potential reward. We move back to EW with PT lowered to $10 (vs. $15 previously)."

For an analyst ratings summary and ratings history on Hertz Global click here. For more ratings news on Hertz Global click here.

Shares of Hertz Global closed at $8.76 yesterday.

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