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Hertz Is a Buy on Outlook for Post-Pandemic Travel: Tigress Financial

Published 26/03/2022, 07:22 am
© Reuters

By Sam Boughedda

Investing.com -- Hertz Global Holdings (OTC:HTZGQ) Inc (NASDAQ:HTZ) shares fell 1% on Friday despite getting a buy rating by Tigress Financial.

Analyst Ivan Feinseth set a price target of $32 on the stock, telling investors in a note that the company is "well-positioned to benefit from favorable macro industry trends as car-rental revenue is expected to increase by almost 50% over the next five years."

The analyst added that the company is also "well-positioned to benefit from the post-pandemic recovery in global travel and increasing demand for personal mobility."

"In addition, HTZ is increasingly positioning itself as a Transportation as a Service (TaaS) rideshare service provider with longer-term rentals for drivers and a fleet and fleet maintenance service provider for rideshare operators," Feinseth added.

Tigress said it believes significant upside exists, with its price target representing a potential return of around 40% from current levels.

 

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