Goldman Sachs Forecasts HTZ Revenue Growth

At an industry presentation yesterday, Hertz Global Holdings, Inc. HTZ management provided a 2011 total revenue forecast of +4% to +5%, Goldman Sachs reports. “In light of our more bullish GDP forecast, we believe could this prove conservative and would be buyers on today's weakness,” Goldman Sachs writes. “We forecast 2011E revenue growth of +7% to $8.1 bn.” Goldman Sachs said that it remains buyers of Hertz “as a compelling relative value opportunity on rebounding corporate travel volumes, with more room to go on its cost-cutting efforts, plus new growth avenues via its push into the off-airport market and expansion of its Advantage brand.” Goldman Sachs' price target is unchanged.