Hertz shares are likely going to $0, Morgan Stanley says

Morgan Stanley on Monday lowered its base case for Hertz to $US0 from $US2, citing risks of de-listing or a potential liquidity shortfall.
The firms base case is now equal to its bear case. Morgan Stanley also lowered its bull case for Hertz to $US3 from $US8.
The updated price target reflects the banks view that our Bear case has a higher probability of occurring than our Bull case, wrote analyst Adam Jonas.
The firm also believes that it is more likely than not that equity will not carry a meaningful residual value, according to the Monday note.
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Hertz shares will likely fall to $US0, according to Morgan Stanley, leaving the car-rental companys shareholders with nothing.

Morgan Stanley on Monday lowe…

Hertz shares are likely going to $0, Morgan Stanley says – Business Insider Australia