Hertz Global Holdings, Inc.
Thesis
We recommend investors buy Hertz stock with a 12-month target share price of $36, representing ~52% upside. The investment thesis includes the underestimation of the impact of Hertz's merger with Dollar Thrifty, the ability to counter falling used car prices, strong growth opportunities in the U.S., and the potential value unlocked by divesting the non-core Equipment Rental segment.
Did it work?
The investment thesis for Hertz was based on several optimistic factors, including the merger with Dollar Thrifty and growth opportunities. However, the stock has declined by 93.4% over 160 months, which is a significant failure to meet the expected upside of 52%. This drastic drop indicates that the thesis did not materialize as anticipated.
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