Herc Holdings initiated with a Neutral at JPMorgan

JPMorgan analyst Tami Zakaria initiated coverage of Herc Holdings with a Neutral rating and $155 price target. The equipment rental industry is expected to be a key beneficiary of multi-year non-residential and infrastructure projects in the U.S., the analyst tells investors in a research note. HRI should benefit, though its near term growth is projected to be slower given the normalization in its fleet capex, says the firm.