Hertz initiated with a Neutral at Susquehanna

Susquehanna analyst Christopher Stathoulopoulos initiated coverage of Hertz Global (HTZ) with a Neutral rating and $18 price target as he expanded his coverage of the Travel and Leisure industry to include car rental companies Hertz and Avis Budget (CAR). Pent-up demand and supply chain pressures have allowed both to over-earn and the duration of that situation underpins the investment debate, said Stathoulopoulos. He expects conditions to gradually normalize, but adds that the "timing is difficult to predict."