Avis Budget price target lowered to $239 from $261 at Deutsche Bank

Deutsche Bank lowered the firm’s price target on Avis Budget to $239 from $261 and keeps a Hold rating on the shares following the Q1 results. The analyst attributes Avis Budget’s intraday share recovery on Tuesday to "continued interest from tactical bulls in the name." The firm thinks investors and analysts are still in the process of recalibrating models to reflect historical seasonality that is returning.