Hertz Falls as Morgan Stanley Reverses Fleeting Bullish Call
- Bank had upgraded the stock to overweight in mid-January
- Lower confidence on company’s EV fleet strategy: analyst
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Morgan Stanley had turned bullish on Hertz Global Holdings in mid-January, citing positive changes the rental car giant was making to its electric vehicle fleet. The bank has now reversed course.
Analysts led by Adam Jonas on Thursday downgraded their recommendation on the stock to equal-weight from overweight, undoing their Jan. 17 upgrade.