Hertz Upgraded by Wachovia (HTZ)

Created by Dividend.com

Rent-a-car specialists Hertz Global Holdings, Inc. (HTZ) was upgraded Thursday morning by analysts at Wachovia.

Wachovia raised its rating on Hertz to “Outperform” from a previous rating of “Market Perform.” The analyst also raised its valuation range $9 to $10, from $7 to $8.50.

Hertz shares rose 19 cents, or +2.8%, in afternoon trading Thursday.

The Bottom Line
Shares of HTZ are off 52-week highs of $11 a share. The stock has technical support in the $5-6 price area. If the shares can gain some momentum on this morning’s upgrade, we see overhead resistance around the $9 level. We do not currently rate this non-dividend paying stock, but we do follow the stock closely.

Hertz Global Holdings, Inc. (HTZ) does not currently pay a dividend.

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