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Fly News Breaks for April 26, 2016
CAR
Apr 26, 2016 | 08:22 EDT
Northcoast analyst John Healy said recent channel work and commentary by Hertz (HTZ), suggest Avis Budget's (CAR) Q1 was weaker than expected and consensus estimates appear too high. The analyst lowered his Q1 loss estimate to 15c from a loss of 12c, full year 2016 earnings estimate to $2.84 from $2.91, and revised his price target to $37 from $40. Healy still views shares as attractive, with low sentiment, a sound management plan, and steady industry fundamentals, and reiterates his Buy rating.
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