Shares of Hertz Global Holdings, Inc. (HTZ) plunged 5.05% on Tuesday, following a bearish analyst report from Barclays. The car rental company's stock faced selling pressure after Barclays analyst Dan Levy reiterated his Sell rating and maintained a $3.00 price target on the stock.
The analyst's negative stance suggests that Barclays believes Hertz's current share price is significantly overvalued compared to their $3 price target. This bearish view from a prominent Wall Street firm likely fueled the sell-off in Hertz's stock during Tuesday's trading session.
Investors will be closely monitoring any further updates or commentary from Barclays and other analysts regarding their outlook on Hertz's business fundamentals and growth prospects. The company's ability to address any concerns raised by analysts will be crucial in determining the stock's future direction.
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