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Fly News Breaks for February 14, 2018
CAR
Feb 14, 2018 | 07:02 EDT
Goldman analyst David Tamberrino downgraded Avis Budget Group to Sell from Neutral and lowered its price target to $33. The analyst believes transitory benefits from Hurricane recovery demand are waning, and headwinds from reduced residual values, higher interest rates, continued competition, and increased SG&A expenses will pressure Avis' earnings outlook.
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