Hertz price target lowered to $6 from $7 at Jefferies

Jefferies analyst Stephanie Moore lowered the firm’s price target on Hertz (HTZ) to $6 from $7 and keeps a Hold rating on the shares. While Q1 missed expectations, largely on weaker revenue, the firm believes the company has successfully executed on its fleet refresh strategy, which should drive better-than-expected depreciation per unit for the rest of 2025. Hertz is “showing good progress on its multi-year turnaround strategy,” but the firm contends that the benefits of its turnaround efforts are still 12-plus months away from being “fully apparent in what remains an uncertain macro backdrop,” the analyst tells investors.