Avis Budget Stock Surges On BofA's Rating Upgrade, Raised Price Target


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  • BofA analyst John Murphy upgraded Avis Budget Group Inc. (NASDAQ:CAR) to Buy from Neutral and raised the price target to $125 (implying an upside of 26%), up from $90. 
  • Murphy believes 'over-earning' to continue for the company. 
  • He states that many of the company's macro factors driving "over-earning" in 2021 - including limited incoming vehicle supply, elevated revenue per day from the ongoing supply/demand imbalance, and moderated per-unit fleet cost - will likely persist well into 2022.
  • Price Action: CAR shares are trading higher by 11.1% at $99.96 on the last check on Thursday.

Crypto Whales Are Loading Up — Are You?

New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.


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Posted In: Analyst ColorLong IdeasNewsUpgradesPrice TargetAnalyst RatingsMoversTrading IdeasBriefs