Morgan Stanley Upgrades Hertz as Rental Company Addresses EV Challenges
In a recent development, Hertz Global has received an upgrade from Morgan Stanley, with the investment firm raising its rating to Outperform from Equal-Weight. However, while this upgrade is positive news for Hertz, Morgan Stanley did lower its 12-month price target to $15.00 from $16.00. The upgrade comes as Hertz announced its plans to add 20,000 Tesla units to its global EV fleet, a move aimed at addressing the challenges the rental company has faced with its electric vehicle strategy.
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