Why Shares of Avis Budget Group Rose as High as 7% on Monday
Ah, the power of an influential analyst recommendation. Avis Budget Group (NASDAQ: CAR) continued to accelerate on Monday, following a significant upgrade and recommendation change on the stock from Morgan Stanley on the previous trading day.
Analyst Adam Jonas boosted his rating on the company's shares to overweight (i.e. buy) and lifted his price target by almost 50% to $37. This propelled Avis to not only a double-digit gain in Thursday trading but to also move it 7% higher at one point on Monday.
Image source: Avis Budget Group.
Source Fool.com
