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CAR

Avis Budget

$38.69

-0.5 (-1.28%)

, HTZ

Hertz

$24.45

-0.53 (-2.12%)

07:51
10/06/17
10/06
07:51
10/06/17
07:51

Deutsche Bank raises price targets in Rental Car space

Deutsche Bank analyst Chris Woronka raised his price target for Buy-rated Avis Budget Group (CAR) to $49 from $44 and for Hold-rated Hertz Global Holdings (HTZ) to $18 from $14. Both companies' third quarters were tracking favorably on both demand and pricing in the U.S. even before the hurricanes, Woronka tells investors in a research note. He believes the storms are likely to have a larger impact on demand in Q4 but a larger positive impact on residual values in Q3. The analyst raised his estimates "above consensus across the board" for both companies.

CAR

Avis Budget

$38.69

-0.5 (-1.28%)

HTZ

Hertz

$24.45

-0.53 (-2.12%)

  • 07

    Nov

  • 08

    Nov

CAR Avis Budget
$38.69

-0.5 (-1.28%)

08/04/17
08/04/17
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Square (SQ) initiated with a Neutral at Wedbush. 2. Avis Budget (CAR) was initiated with an Overweight at JPMorgan while Hertz (HTZ) was initiated with a Neutral at the firm. 3. IBM (IBM) initiated with a Neutral at Wedbush. 4. Amtech Systems (ASYS) initiated with a Buy at Roth Capital. 5. Franklin Financial Network (FSB) initiated with a Market Perform at Hovde Group. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
09/07/17
GSCO
09/07/17
UPGRADE
Target $67
GSCO
Neutral
Group 1 Automotive upgraded to Neutral from Sell at Goldman Sachs
Goldman Sachs analyst David Tamberrino upgraded Group 1 Automotive (GPI) to Neutral citing the positive impact from Hurricane Harvey. The analyst sees positive impacts on the broader auto ecosystem as flood-damaged vehicles exit the system, particularly for auto dealerships with significant Houston exposure like Group 1. Tamberrino raised his price target for the shares to $67 from $56. The analyst also upgraded his view on the Rental Car sector to Neutral from Cautious. He raised his price target for Avis Budget (CAR) to $37 from $27 and for Hertz (HTZ) to $17 from $11. Tamberrino keeps a Neutral rating on Avis and Sell rating on Hertz.
09/14/17
FBCO
09/14/17
NO CHANGE
FBCO
Hertz, Avis Budget storm-related rally overdone, says Credit Suisse
Credit Suisse analyst Anjaneya Singh says that while difficult to assess when exactly the market will normalize, he believes these storms could serve to be net positive impacts for Hertz (HTZ) and Avis Budget (CAR) in the near-term. However, the analyst views the recent rally, which has been driven by headlines, to be overdone. Moreover, Singh believes that the inability of the industry to offset fleet costs via pricing, for the foreseeable future, has not changed. He reiterates a Neutral rating on Avis Budget, and Underperform rating on Hertz.
10/02/17
SUSQ
10/02/17
NO CHANGE
SUSQ
NADA data show slight improvement in September used car prices, says Susquehanna
Susquehanna said that data from NADA showed that seasonally adjusted used car prices declined 4.1% year-over-year and increased 1.2% month-over-month in September. While the firm expects recent hurricanes to be a near-term benefit to used car prices, it thinks any near-term improvement will be short-lived. Hertz (HTZ) and Avis Budget (CAR) are near-session highs in afternoon trading.
HTZ Hertz
$24.45

-0.53 (-2.12%)

09/14/17
MSCO
09/14/17
DOWNGRADE
Target $14
MSCO
Underweight
Hertz downgraded to Underweight from Equal Weight at Morgan Stanley
Morgan Stanley analyst Adam Jonas downgraded Hertz to Underweight from Equal Weight following the doubling of shares over the last three months and raised its price target to $14 from $12.
09/14/17
09/14/17
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Hertz (HTZ) downgraded to Underweight from Equal Weight at Morgan Stanley with analyst Adam Jonas citing the doubling of shares over the last three months and raised its price target to $14 from $12. 2. New Oriental Education (EDU) downgraded to Underweight from Neutral at JPMorgan with analyst Leon Chik saying the downgrade is "purely a valuation call." 3. McKesson (MCK) and AmerisourceBergen (ABC) were downgraded to Equal Weight from Overweight at Morgan Stanley. 4. Apache (APA) and Imperial Oil (IMO) were downgraded to Underweight from Neutral at JPMorgan, while Hess Corp. (HES) was downgraded to Neutral from Overweight. 5. Ryanair (RYAAY) downgraded to Reduce from Hold at HSBC with analyst Andrew Lobbenberg citing the ECJ ruling against the company's practice of employing flight crew on Irish labor contracts. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

TODAY'S FREE FLY STORIES

GOOG

Alphabet

$1,173.38

7.17 (0.61%)

, GOOGL

Alphabet Class A

$1,179.78

7.56 (0.64%)

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Periodicals
Google CEO to meet with top Republican lawmakers Friday, WSJ says »

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GOOG

Alphabet

$1,173.38

7.17 (0.61%)

GOOGL

Alphabet Class A

$1,179.78

7.56 (0.64%)

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ASNA

Ascena Retail

$4.02

-0.21 (-4.96%)

, BAS

Basic Energy

$9.44

0.18 (1.94%)

18:56
09/24/18
09/24
18:56
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Hot Stocks
Fly Intel: After Hours Movers »

UP AFTER EARNINGS: Ascena…

ASNA

Ascena Retail

$4.02

-0.21 (-4.96%)

BAS

Basic Energy

$9.44

0.18 (1.94%)

KEG

Key Energy

$13.46

-0.18 (-1.32%)

PSTI

Pluristem

$1.31

(0.00%)

ARNA

Arena Pharmaceuticals

$42.80

-1.05 (-2.39%)

NOVN

Novan

$2.72

0.015 (0.56%)

SNDX

Syndax

$7.23

0.46 (6.79%)

DCPH

Deciphera

$39.80

0.78 (2.00%)

BJ

BJ's Wholesale

$28.47

-0.68 (-2.33%)

PETQ

PetIQ

$41.07

-0.55 (-1.32%)

CNP

CenterPoint Energy

$27.81

-0.23 (-0.82%)

CTL

CenturyLink

$22.90

-0.04 (-0.17%)

PBR

Petrobras

$11.40

-0.105 (-0.91%)

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PBR

Petrobras

$11.40

-0.105 (-0.91%)

18:54
09/24/18
09/24
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09/24/18
18:54
Hot Stocks
Breaking Hot Stocks news story on Petrobras »

Petrobras reports August…

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VRSN

VeriSign

$158.97

-0.79 (-0.49%)

18:39
09/24/18
09/24
18:39
09/24/18
18:39
Recommendations
VeriSign analyst commentary  »

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TI

Telecom Italia

$6.54

-0.1 (-1.51%)

18:35
09/24/18
09/24
18:35
09/24/18
18:35
Periodicals
Telecom Italia discussed Nextel bid at board meeting, Bloomberg says »

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INSG

Inseego

$4.01

-0.08 (-1.96%)

18:31
09/24/18
09/24
18:31
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18:31
Hot Stocks
Inseego names John Weldon to head Enterprise SaaS Solutions division »

Inseego announced the…

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PCG

PG&E

$46.30

-0.48 (-1.03%)

18:31
09/24/18
09/24
18:31
09/24/18
18:31
Periodicals
PG&E says will invest $360M in electric car infrastructure, Bloomberg says »

PG&E senior manager…

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  • 25

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KKR

KKR

$28.25

-0.01 (-0.04%)

18:21
09/24/18
09/24
18:21
09/24/18
18:21
Hot Stocks
KKR announces intra-quarter Q3 monetization activity »

KKR announced…

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UNH

UnitedHealth

$267.35

0.6 (0.22%)

, EVHC

Envision Healthcare

$45.72

0.07 (0.15%)

18:17
09/24/18
09/24
18:17
09/24/18
18:17
Periodicals
UnitedHealth tells Hospitals about Envision ER contracts, Reuters says »

UnitedHealth (UNH) plans…

UNH

UnitedHealth

$267.35

0.6 (0.22%)

EVHC

Envision Healthcare

$45.72

0.07 (0.15%)

03/08/13
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  • 25

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AMZN

Amazon.com

$1,934.50

16.75 (0.87%)

, UBER

Uber

$0.00

(0.00%)

18:14
09/24/18
09/24
18:14
09/24/18
18:14
Periodicals
Amazon has made two approaches to buy Deliveroo, Telegraph reports »

Amazon has made two…

AMZN

Amazon.com

$1,934.50

16.75 (0.87%)

UBER

Uber

$0.00

(0.00%)

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  • 26

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BK

BNY Mellon

$52.36

-0.9 (-1.69%)

17:48
09/24/18
09/24
17:48
09/24/18
17:48
Hot Stocks
BNY Mellon Investment Management to close EACM Advisors »

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  • 18

    Oct

EPZM

Epizyme

$10.23

-0.075 (-0.73%)

17:44
09/24/18
09/24
17:44
09/24/18
17:44
Initiation
Epizyme initiated  »

Epizyme initiated with a…

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  • 24

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  • 02

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NAVB

Navidea

$0.25

-0.0135 (-5.14%)

17:31
09/24/18
09/24
17:31
09/24/18
17:31
Hot Stocks
Breaking Hot Stocks news story on Navidea »

John K. Scott, Jr.…

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LYL

Dragon Victory

$1.46

(0.00%)

17:30
09/24/18
09/24
17:30
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17:30
Hot Stocks
Breaking Hot Stocks news story on Dragon Victory »

White Knight Ltd reports…

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RDS.A

Royal Dutch Shell

$68.18

0.89 (1.32%)

, RDS.B

Royal Dutch Shell

$70.25

0.67 (0.96%)

17:30
09/24/18
09/24
17:30
09/24/18
17:30
Periodicals
Shell CEO weighs $30B LNG export terminal in Canada, WSJ says »

Royal Dutch Shell CEO Ben…

RDS.A

Royal Dutch Shell

$68.18

0.89 (1.32%)

RDS.B

Royal Dutch Shell

$70.25

0.67 (0.96%)

03/08/13
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SEND

SendGrid

$35.40

-0.085 (-0.24%)

17:27
09/24/18
09/24
17:27
09/24/18
17:27
Initiation
SendGrid initiated  »

SendGrid initiated with a…

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PGNX

Progenics

$6.44

0.03 (0.47%)

17:25
09/24/18
09/24
17:25
09/24/18
17:25
Hot Stocks
Breaking Hot Stocks news story on Progenics »

Armistice Capital reports…

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VLY

Valley National

$11.76

-0.26 (-2.16%)

17:20
09/24/18
09/24
17:20
09/24/18
17:20
Hot Stocks
Valley National announces transfer of listing to Nasdaq »

Valley National Bancorp…

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  • 29

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CPT

Camden Property

$93.35

-1.6 (-1.69%)

17:18
09/24/18
09/24
17:18
09/24/18
17:18
Hot Stocks
Camden Property completes acquisition of Florida apartment community »

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  • 25

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ST

Sensata

$50.74

-1.14 (-2.20%)

17:13
09/24/18
09/24
17:13
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17:13
Hot Stocks
Sensata acquires privately-held GIGAVAC FOR approximately $233M »

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  • 13

    Nov

BA

Boeing

$368.04

-3.84 (-1.03%)

17:13
09/24/18
09/24
17:13
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17:13
Hot Stocks
Boeing awarded $375.6M U.S. Air Force contract »

Boeing has been awarded a…

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LMT

Lockheed Martin

$337.65

-0.13 (-0.04%)

17:12
09/24/18
09/24
17:12
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17:12
Hot Stocks
Lockheed Martin awarded $289.2M U.S. Army contract »

Lockheed Martin was…

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  • 30

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EME

EMCOR

$75.06

0.04 (0.05%)

17:11
09/24/18
09/24
17:11
09/24/18
17:11
Hot Stocks
EMCOR among bidders for $475M U.S. Army contract »

EMCOR Government…

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GEMP

Gemphire Therapeutics

$2.32

-0.035 (-1.49%)

17:08
09/24/18
09/24
17:08
09/24/18
17:08
Hot Stocks
Gemphire Therapeutics to cut 33% of staff and take a $1.4M related charge »

Gemphire Therapeutics…

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LKM

Link Motion

$0.62

-0.0478 (-7.12%)

17:03
09/24/18
09/24
17:03
09/24/18
17:03
Hot Stocks
Link Motion receives noncompliance notice from NYSE »

Link Motion announced…

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