Goldman Sachs Lifts Numbers On Avis Budget Group (CAR)

Goldman Sachs raised their price target on Buy-rated Avis Budget Group (NASDAQ: CAR) from $14.50 to $17.50 following Q3 results.

2011E-2013E EBITDA estimates move to $633 mn/$720 mn/$786 mn from $619 mn/$570 mn/$629 mn. 2011E-2013E EPS estimates move to $1.81/$1.98/$2.25 from $1.79/$1.51/$1.83.

Goldman said continued improvement on the productivity front should led to margin improvement, positive volume growth, and the potential for synergy opportunities from the Avis Europe acquisition and drive shares higher.

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 $13.05 yesterday.

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