Hertz price target lowered to $5 from $5.50 at Morgan Stanley

Morgan Stanley analyst Andrew Percoco lowered the firm’s price target on Hertz (HTZ) to $5 from $5.50 and keeps an Equal Weight rating on the shares. The firm updated its rental car estimates post Q4, lowering its targets for both Avis Budget (CAR) and Hertz after what it calls “much weaker than expected results and guidance.”