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Hertz Downgraded at Jefferies As EV Fleet Repairs Likely to Weigh on Profit

Hertz shares are 3% lower in Friday's premarket on a downgrade at Jefferies to Hold from Buy.Analysts there set an $8 price target, 11% below Thursday's closing price.The firm expects near-term profitability to be limited by repairs to its EV fleet, higher operating expenses, and DPU.Jefferies also lowered its 2024 EBITDA estimate by 35% to ~$500M as the consensus estimates of $815M will likely prove too optimistic.Given that the remediation of these issues is neither simple nor quick, the firm

Hertz Downgraded at Jefferies As EV Fleet Repairs Likely to Weigh on Profit

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Rating company stock is one kind of stock manipulation","highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"favoriteSize":0,"link":"https://ttm.financial/post/264807057748272","repostId":1190861788,"repostType":2,"repost":{"id":"1190861788","kind":"news","pubTimestamp":1705673400,"share":"https://www.laohu8.com/m/news/1190861788?lang=&edition=full","pubTime":"2024-01-19 22:10","market":"us","language":"en","title":"Hertz Downgraded at Jefferies As EV Fleet Repairs Likely to Weigh on Profit","url":"https://stock-news.laohu8.com/highlight/detail?id=1190861788","media":"Seeking Alpha","summary":"Hertz  shares are 3% lower in Friday's premarket on a downgrade at Jefferies to Hold from Buy.Analysts there set an $8 price target, 11% below Thursday's closing price.The firm expects near-term profitability to be limited by repairs to its EV fleet, higher operating expenses, and DPU.Jefferies also lowered its 2024 EBITDA estimate by 35% to ~$500M as the consensus estimates of $815M will likely prove too optimistic.Given that the remediation of these issues is neither simple nor quick, the firm","content":"<html><head></head><body><p>Hertz (NASDAQ:HTZ) shares are 3.2% lower in Friday&#39;s premarket on a downgrade at Jefferies to Hold from Buy.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/8f793332612035a7498be40009dc70fe\" tg-width=\"841\" tg-height=\"618\"/></p><p>Analysts there set an $8 price target, 11% below Thursday&#39;s closing price.</p><p>The firm expects near-term profitability to be limited by repairs to its EV fleet, higher operating expenses, and DPU.</p><p>Jefferies also lowered its 2024 EBITDA estimate by 35% to ~$500M as the consensus estimates of $815M will likely prove too optimistic.</p><p>Given that the remediation of these issues is neither simple nor quick, the firm is not confident its reduced EBITDA estimate is low enough.</p><p>The decision came as rising costs to maintain its EV fleet contributed to disappointing Q3 results.</p><p>Hertz (HTZ) recently announced it will reduce its EV fleet by 20K vehicles and replace them with gas-powered vehicles.</p></body></html>","source":"seekingalpha","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; 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