Herc Holdings upgraded to Outperform from Neutral at Baird

Baird upgraded Herc Holdings (HRI) to Outperform from Neutral with a price target of $160, up from $137. With signs of rental industry stabilization into 2026, the shares offer meaningful upside potential, the analyst tells investors in a research note. Baird believes diminishing pressure on Herc’s core business and ongoing cost management should drive balance sheet deleveraging and boost the equity value.