AutoNation's (AN.US) and Hertz (HTZ.US) shares are set to struggle next year, as Morgan Stanley cuts its price target on both stocks
Market IntelFriday, Nov 22, 2024 9:30 am ET
1min readMorgan Stanley warned investors to be increasingly cautious about US auto rental stocks as it enters 2025. Morgan Stanley analyst Adam Jonas said investors are now focusing on pricing prospects, despite overall stable travel trends in 2024. Jonas emphasized: "We believe pricing uncertainty may continue to rise in 2025 as competition intensifies, with the impact of hurricanes in Q3 dissipating, and Enterprise continues to update its fleet to be more competitive at airports, which account for over 66% of Hertz (HTZ.US) and AutoNation (CAR.US) passenger volume."
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