Shares of Avis Budget Group (NASDAQ: CAR), a global provider of mobility solutions and rental vehicles through its Avis and Budget brands, were trading 8% higher as of 1:32 p.m. EST Friday.

One possible news item that could have been motivating investors to bid the shares up was Morgan Stanley analyst Billy Kovanis' recent upgrade of Avis Budget.

Kovanis kept an overweight rating on the stock, which is an optimistic view of its potential, and lifted his price target from $44 to $56. That move was based on his prediction that travel will inevitably rebound and that Avis will benefit more from that than the market is currently giving it credit for.

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Source Fool.com