NEW YORK (TheStreet) -- Shares of Hertz (HTZ) - Get Hertz Global Holdings, Inc. Reportclosed down on Wednesday after Deutsche Bank reduced its price target on the stock to $63 from $76 this morning. 

The firm noted that while Hertz reported mixed second quarter earnings on Monday, its volume growth looks promising.

"Interestingly, we calculate that HTZ only needs 1.6% growth in U.S. RAC revenues to hit the low-end of guidance," Deutsche Bank continued in an analyst note. "Even if pricing remains elusive for HTZ, volumes should support its revenue target."

Hertz is also likely to generate about $500 million of free cash flow in 2016, the firm noted. Deutsche Bank models $621 million of FCF in 2017, which implies a 16% yield. 

Earlier this week, the company reported earnings of 41 cents per share on revenues of $2.27 billion. 

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For the full year, Hertz expects earnings between $2.75 per share and $3.50 per share. Wall Street is looking for earnings of $3.30 per share for 2016. 

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