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Herc Holdings price target lowered to $150 from $170 at BofA
The Fly

Herc Holdings price target lowered to $150 from $170 at BofA

BofA analyst Sherif El-Sabbahy lowered the firm’s price target on Herc Holdings to $150 from $170 and keeps a Buy rating on the shares. The company’s "slight miss" in Q1 is more tied to execution than cycle concerns, contends the firm, which adds that the company’s demand and pricing commentary was positive. The firm maintains its 2023-24 EBITDA estimates given reiterated guidance, but decreased its target as it is now valuing the stock using "a more conservative half turn discount" to the historical average given construction concerns.

Published first on TheFly

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