Hertz stock price long-term bulls cite sustainability

Long-term bulls cite sustainability initiatives as a potential multiple expansion driver over the next fiscal year. This move also marks a “critical milestone” in making retail the company’s primary car selling channel, West said. The company has been trying to right its business after filing for bankruptcy in May 2020 amid the height of the COVID-19 pandemic. Last year, it announced a “Back-to-Basics Roadmap” for a turnaround plan focused in part on fleet management. Moreover, despite Ackman’s confidence, the long-term prospects are grim for Hertz amid economic uncertainty. Consumer sentiment has soured due to tariffs, leading to reduced travel spending and negatively impacting rental companies like Hertz. Analysts tracking Hertz stock price highlight improving balance sheet metrics, with net debt-to-EBITDA easing. Technical traders, however, caution that resistance near $4.35 has capped rallies twice this month.