By: Benzinga
UPDATE: Morgan Stanley Downgrades Hertz Global Holdings to Underweight on Used Car Pricing Headinds
Morgan Stanley downgraded Hertz Global Holdings (NYSE: HTZ ) from Overweight to Underweight and raised the price target from $17.00 to $18.00. Morgan Stanley commented, "In conjunction with our upgraded 2013 US SAAR estimate of 16m units we take a more cautious view on the outlook of used car prices
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