JPMorgan cuts Hertz estimates on earnings call commentary

JPMorgan lowered estimates for Hertz (HTZ) despite the company’s Q2 beat and keeps an Underweight rating on the shares without a price target Management on the earnings conference call said incremental challenges in the back half cause it to now forecast a slight EBITDA loss for the full year versus a slight profit earlier, the analyst tells investors in a research note. As a result, JPMorgan cut its second half of 2025 EBITDA forecast by $141M to $234M to reflect demand uncertainty, new vehicle procurement challenges, and the impact of an elevated number of industry-wide recalls. The firm continues to prefer shares of Avis Budget (CAR) to Hertz. Shares of Hertz are down 10c to $5.89 in morning trading.