Hertz Global Holdings, Inc. (NASDAQ:HTZ) announced a new $2 billion share repurchase authorization, which is an addition to the previous $2 billion share repurchase program announced in November 2021 ($0.2 billion remaining).

While stating they are aware of, and fully respect, market concerns about a potential recession on the horizon, analysts at Deutsche Bank said they believe the increased repurchase authorization is largely reflective of management's confidence in its 2022 free cash flow generation and doesn't necessarily extend to a view on 2023.