In a recent development, Pershing Square Capital Management, led by prominent investor Bill Ackman (Trades, Portfolio), has announced a significant investment in Hertz Global Holdings (HTZ, Financial). According to a regulatory filing, the hedge fund has acquired 12,713,963 shares in the car rental company. This investment is valued at approximately $46,533,105.
This move suggests Ackman's confidence in Hertz's potential for growth and recovery, especially as the travel sector continues to rebound from the impacts of the recent global disruptions. The substantial stake taken by Pershing Square indicates a strategic belief in the company's market prospects.
Hertz (HTZ, Financial) has been undergoing various strategic shifts to strengthen its position in the industry, and this investment by a high-profile investor like Bill Ackman (Trades, Portfolio) may provide additional momentum to its initiatives. As the company continues to navigate the post-crisis period, this significant financial backing could prove influential in its future endeavors.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 7 analysts, the average target price for Hertz Global Holdings Inc (HTZ, Financial) is $3.31 with a high estimate of $4.45 and a low estimate of $2.70. The average target implies an downside of 9.39% from the current price of $3.65. More detailed estimate data can be found on the Hertz Global Holdings Inc (HTZ) Forecast page.
Based on the consensus recommendation from 10 brokerage firms, Hertz Global Holdings Inc's (HTZ, Financial) average brokerage recommendation is currently 3.4, indicating "Hold" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Hertz Global Holdings Inc (HTZ, Financial) in one year is $19.51, suggesting a upside of 434.52% from the current price of $3.65. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Hertz Global Holdings Inc (HTZ) Summary page.
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