Avis Budget (CAR) shares jumped Thursday, after Bank of America upgraded the car rental stalwart to buy from neutral.
“Many of the macro factors driving ‘over-earning’ by the company in 2021 will likely persist well into 2022,” BofA analysts wrote in a commentary.
That includes “limited incoming vehicle supply and tight average fleet, elevated revenue per day from the ongoing supply/demand imbalance and moderated per unit fleet cost from elevated used vehicle pricing.”
So: “Combined with ongoing execution by Avis,....More>>>