FedEx, Avis and PayPal rise premarket; Palantir falls

Go back to FedEx, Avis and PayPal rise premarket; Palantir falls

Avis Budget Group (CAR) lifted as Morgan Stanley sees 'higher floor for the industry'

June 20, 2023 9:02 AM EDT

Morgan Stanley analyst Adam Jonas upgraded Avis Budget Group (NASDAQ: CAR) to Overweight from Equal-Weight, raising the firm's price target on the stock to $230 from $182 in a note to clients Tuesday.

The rating lift has boosted CAR's share price by more than 3% premarket to over $212 per share.

Jonas told investors that with the backdrop... More