UPDATE: JPMorgan Upgrades Shares of Zipcar (ZIP) to Overweight, Encourages Investors to Buy

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June 10, 2011 10:45 AM EDT
Get Alerts ZIP Hot Sheet
Price: $4.99 --0%

Rating Summary:
    2 Buy, 7 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 7 | Down: 10 | New: 16
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Given the recent decline in shares of Zipcar (NYSE: ZIP), JPMorgan believes that now is a great opportunity for investors to enter the stock at an early stage and has upgraded it rating on the stock from Neutral to Overweight. The firm is maintaining its price target of $29.50.

The company is a fast-growth leader in a multi-billion dollar market and has over 75 percent market share in the auto-sharing market.

Following the update shares of ZIP are current up 5.12 percent of $0.99 to $20.34.

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