NEW YORK (TheStreet) -- Shares of Hertz Global (HTZ) - Get Report are advancing 2.51% to $11.04 in early-morning trading on Thursday after reaching agreements to supply vehicles to U.S. drivers for ride-hailing apps Uber and Lyft.
The Lyft agreement builds upon pilot programs in Las Vegas and Denver and provides set rental rates for drivers, according to a Hertz statement. The drivers will be serviced from dedicated off-airport Hertz locations.
The Lyft program is expanding to Los Angeles and San Francisco with more markets expected to follow.
The Uber agreement will begin in the Los Angeles area.
Separately, TheStreet Ratings team rates the stock as a "sell" with a ratings score of D+.
Hertz's weaknesses include its generally disappointing historical performance in the stock itself, generally high debt management risk and weak operating cash flow.
You can view the full analysis from the report here: HTZ
TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this article's author.