Barclays Positive on Avis Budget Group (CAR) After Investor Meeting; Dip Created Near-Term Entry Point

Barclays maintains an 'Equalweight' on Avis Budget Group (NASDAQ: CAR) price target of $20.00.

Analyst, Brian A. Johnson, said, "Last week we hosted a series of investor meetings with Avis senior management. The time spent with management made us incrementally positive around issues surrounding fleet costs, pricing, European macro issues, balance sheet/cash management, and company transparency. While we gained modestly greater appreciation around some of the "more discussed" topics, we continue to lack some visibility regarding the mid-term, normalized fleet cost and pricing environments."

However, Johnson said that the stock has been down over 10% since Investor Day and that dip may offer a near-term entry point.

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 $14.83 yesterday.

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