Herc Holdings price target lowered to $140 from $165 at Citi

Citi analyst Kyle Menges lowered the firm’s price target on Herc Holdings (HRI) to $140 from $165 and keeps a Buy rating on the shares as part of a Q1 earnings preview for U.S. machinery. The firm reduced estimates across the board given the view that the U.S. capex outlook is most at risk from Trump administration’s tariffs. Citi anticipates the Trump administration’s tariffs to negatively impact U.S. farmers’ exports and profits, likely extending the agriculture downcycle in North America.