Let’s just say it’s not looking good for car rental firm Hertz (HTZ). According to Morgan Stanley analyst Adam Jonas, hopes of a turnaround are, well, pretty close to zero.The analyst’s best-case scenario for Robinhood’s favorite bankrupt stock is a $3 price target (down from $8). The base case, however, is $0 (down from $2). This begs the question: what is the bear case? Jonas argues that even if lenders are willing to help Hertz out with a financial package, there are “concerns of material equity dilution.”Jonas explained, “As equity holders are at the bottom of the pecking order of …read more
Source:: Yahoo Finance
