Hertz Global (HTZ) Q1 Results Likely Below Consensus
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Hertz Global (HTZ) Removed from Wells Fargo's Priority Stock List (Earlier)
June 9, 2014 2:38 PM EDTWells Fargo maintained an Outperform rating on Hertz Global (NYSE: HTZ) and reduced its price target to $30-$33 (from $32-$36). The stock was also removed from Wells Fargo's Priority Stock List.
Analyst Richard M. Kwas said, The 9% decline in the stock on Friday (vs. +0.5% for the SPX) appears justified as future earnings could be revised by a similar percentage (impact from accounting errors, etc.). We... More
Hertz Global (HTZ) Stock May Find Support at $27, Says Wells Fargo
June 6, 2014 10:10 AM EDTHertz Global (NYSE: HTZ) stock declined pre-market Friday after the company announced additional accounting issues. Analyst Richard M. Kwas of Wells Fargo thinks the stock will find support at $27.
"The disclosure of further accounting issues should be a headwind for the stock. April pricing was up yr./yr. for the company's brands, but mix mitigates the benefit (our U.S. RPD is down slightly yr./yr. for Q2). The forward commentary was good, in our view. There were no comments about 2014 guidance given possible restatements. Using our current 2014 RAC EBITDA... More
Hertz Global (HTZ) Said Accounting Issues Could Delay HERC Split-Off
June 6, 2014 9:10 AM EDTIn addition to general worry about Hertz Global Holdings (NYSE: HTZ) related today's disclosure of errors in its financial reports, the company also disclosed that its spin-off of "HERC," the Hertz Equipment Rental Corporation, could be delayed as a result:
Our equipment rental... More
