In a report published Thursday, Morgan Stanley analyst Adam Jonas reiterated an Underweight rating on Avis Budget Group CAR, but removed the $28.00 price target.
In the report, Morgan Stanley noted, “CAR 1Q EPS of $0.16 (excl. special items) was more than 3x MSe $0.05 and double cons. $0.08, driven mainly by lower than expected NA fleet costs and slightly better NA pricing. Adj. EBITDA of $117mm (excl. special items) was 13% above our $104mm estimate and above consensus. NA drove the beat, International was a bit light while Truck was in line.”
Avis Budget Group closed on Wednesday at $54.03.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in