Avis Budget price target lowered to $202 from $248 at Deutsche Bank

Deutsche Bank lowered the firm’s price target on Avis Budget to $202 from $248 and keeps a Buy rating on the shares. The analyst has conviction that the meaningful reset of forecasts for 2024 “will be the only, and thus final, markdown of the year.” Value in the stock remains but patience is required, the analyst tells investors in a research note.