Herc Holdings price target lowered to $190 from $200 at KeyBanc

KeyBanc lowered the firm’s price target on Herc Holdings (HRI) to $190 from $200 and keeps an Overweight rating on the shares. The firm notes shares underperformed following Q4 results and an FY26 EBITDA outlook below consensus. KeyBanc acknowledges disappointment in Q4 as the company continues to work through integration headwinds. That said, the firm thinks Herc has a solid path toward margin expansion from synergy capture, and it remains optimistic on the non-residential environment, particularly if local accounts were to reaccelerate.