© Reuters
Investing.com — Hertz Global Holdings (OTC:) Inc (NASDAQ:) 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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