Barclays upgrades the car and truck rental company citing rising demand and higher used car resale value. Shares of Avis Budget Group gained at Autobahn speed on Thursday after Barclays analyst Brian Johnson upgraded the stock based on higher used car resale values and recovering rental demand. Johnson recommends buying the stock, raising his rating on Avis Budget to overweight, up from equal weight, and lifted his price target to $15 from $12. According to the analyst, “Avis Budget is near an inflection point on the demand side, with rental day comps expected to turn positive this year, based on the recent uptick in enplanements and hotel rooms sold. Dollar Thrifty Automotive Group ( DTG – news – people ) gained 15 cents, or 0. Hertz Global Holdings ( HTZ – news – people ) dipped 29 cents, or 2. read more
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