Avis Budget price target lowered to $95 from $120 at Susquehanna

Susquehanna lowered the firm’s price target on Avis Budget to $95 from $120 and keeps a Neutral rating on the shares. The firm said although they are looking to 2H24 to get a better idea of the impact of 2025 vehicle purchases on the company’s unit economics, leisure and business demand appears to be holding up, with recent comments from C- Corp. lodging companies and US airlines directionally positive for car rental volumes into the fall.