JPMorgan analyst Ryan Brinkman raised the firm’s price target on Avis Budget to $275 from $270 and keeps an Overweight rating on the shares. The company reported "strong" Q4 results, helped by lower fleet depreciation and a better trend to transaction days, the analyst tells investors in a research note. The firm believes the company is likely to continue to "over-earn for longer," even despite headwinds related to higher fleet depreciation and vehicle interest expense.
Published first on TheFly
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