UPDATE: Morgan Stanley Upgrades Avis Budget Group (CAR) to Equalweight

(updating comment)

Morgan Stanley analyst Adam Jonas upgraded Avis Budget Group (NASDAQ: CAR) from Underweight to Equalweight with a price target of $15.00.

The analyst comments "We are upgrading CAR to EW from UW as the company has executed important steps (capital raising, cost cutting) to buy time to re-size the fleet. Used car prices are also improving vs. our previous concerns. Risks remain but our $15 target justifies the change of view."

For an analyst ratings summary and ratings history on Avis Budget Group click here. For more ratings news on Avis Budget Group click here.

Shares of Avis Budget Group closed at $15.65 yesterday.

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