- The shares of Hertz Global Holdings, Inc. (NASDAQ: HTZ) have received a $34 price target from Deutsche Bank. These are the details.
The shares of Hertz Global Holdings, Inc. (NASDAQ: HTZ) have received a $34 price target from Deutsche Bank. And Deutsche Bank analyst Chris Woronka last night reinstated coverage of Hertz Global Holdings with a “Buy” rating.
Woronka noted that the current valuation gap between Hertz and Avis Budget is illogically wide. And Hertz recently announced a $2 billion share repurchase authorization that would enable it to buy back 17% of the current market cap while it is highly unlikely that Avis is in the market buying its stock now.
But Woronka believes it will likely take some time for many investors to reengage on the Hertz story. However, the company’s potential ability to broaden out the investor base in light of a larger market cap and forward-looking growth initiatives that can appeal to multiple investor groups should be viewed as a positive catalyst.
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