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

March 16, 2021 3:58 AM EDT
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Price: $79.15 +1.24%

Rating Summary:
    3 Buy, 7 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 17 | Down: 13 | New: 41
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(Updated - March 16, 2021 6:50 AM EDT)

Morgan Stanley analyst Billy Kovanis downgraded Avis Budget Group (NASDAQ: CAR) from Overweight to Equalweight with a price target of $67.00 (from $67.00).

The analyst comments "Following the strong performance of CAR alongside the increases in Consensus earnings estimates in outer years, we believe that the market has now priced in a meaningful part of the earnings recovery ahead. We remain bullish on the path forward but move to EW on a balanced risk-reward."

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 $72.04 yesterday.

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