Avis Budget named short-term buy idea at Deutsche Bank

Deutsche Bank analyst Chris Woronka placed a “Catalyst Call: Buy” on shares of Avis Budget as a short-term investment idea. The firm keeps a Hold rating on the shares with a $260 price target. Deutsche sees the shares as being inexpensive at current levels. The level of concern implicitly priced into the stock regarding a faster or more severe pace of “normalization” on pricing or residual values is too extreme, the analyst tells investors in a research note. The firm believes the stock can experience a rally as Avis Budget’s results and outlook are digested by the market.