U.S. Stock Market Movement: Herc Holdings surged on October 28 as target price was raised, earnings exceeded expectations, and rental growth accelerated.

Herc Holdings October 28 Surge Analysis

Keywords: Target Price Increase, Better-than-Expected Earnings, Rental Growth

1. On October 28, JPMorgan raised Herc Holdings' target price from $165 to $230, Baird from $220 to $240, and Citi from $150 to $180.

2. On October 27, the company announced third-quarter adjusted earnings per share of $3.91, higher than the expected $2.90; revenue of $1.364 billion, exceeding the expected $1.345 billion. Equipment rental income hit a record $1.254 billion, up 12% year-on-year; adjusted EBITDA was $603 million, up 9% year-on-year.

3. On October 27, the company raised its full-year 2026 guidance for the second time, with median equipment rental income at $4.513 billion and median adjusted EBITDA at $2.13 billion; the company stated that large-scale project business volume is robust and professional solutions business achieved double-digit growth.

(Disclaimer: This content is generated by AI technology based on publicly available information and is for reference only. It does not constitute investment advice.)