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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

XERS

Xeris Pharmaceuticals

$0.00

(0.00%)

09:58
06/21/18
06/21
09:58
06/21/18
09:58
Syndicate
Xeris Pharmaceuticals indicated to open at $15.75 »

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DRI

Darden

$102.00

8.73 (9.36%)

, KR

Kroger

$29.44

3.23 (12.32%)

09:55
06/21/18
06/21
09:55
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09:55
Options
Early notable gainers among liquid option names on June 21st »

Notable gainers among…

DRI

Darden

$102.00

8.73 (9.36%)

KR

Kroger

$29.44

3.23 (12.32%)

PDCO

Patterson Companies

$24.43

1.89 (8.39%)

LRCX

Lam Research

$179.00

4.53 (2.60%)

JWN

Nordstrom

$52.65

0.81 (1.56%)

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PCG

PG&E

$39.82

-0.18 (-0.45%)

09:55
06/21/18
06/21
09:55
06/21/18
09:55
Conference/Events
PG&E to host investor conference call »

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EPRT

Essential Properties Realty Trust

$0.00

(0.00%)

09:54
06/21/18
06/21
09:54
06/21/18
09:54
Syndicate
Essential Properties Realty Trust indicated to open at $13.25-$13.75 »

Essential Properties…

03/08/13
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03/08/13
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  • 21

    Jun

IBN

ICICI Bank

$8.75

0.05 (0.57%)

09:51
06/21/18
06/21
09:51
06/21/18
09:51
Downgrade
ICICI Bank rating change  »

ICICI Bank downgraded to…

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09:50
06/21/18
06/21
09:50
06/21/18
09:50
Hot Stocks
Breaking Hot Stocks news story  »

Gores Holdings II Inc…

JPM

JPMorgan

$107.35

-0.21 (-0.20%)

09:50
06/21/18
06/21
09:50
06/21/18
09:50
Options
1.2K JP Morgan Jul 27th 100 - 105 put spreads bought for $1.15 »

1.2K JP Morgan Jul 27th…

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  • 13

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    Oct

GSHT

Gores Holdings

$10.08

(0.00%)

09:50
06/21/18
06/21
09:50
06/21/18
09:50
Hot Stocks
Breaking Hot Stocks news story on Gores Holdings »

Gores Holdings II Inc…

03/08/13
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09:50
06/21/18
06/21
09:50
06/21/18
09:50
General news
U.S. leading indicators preview: »

U.S. leading indicators…

CURO

Curo Group

$22.50

(0.00%)

09:48
06/21/18
06/21
09:48
06/21/18
09:48
Recommendations
Curo Group analyst commentary  »

Curo Group named 2018…

03/08/13
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03/08/13
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03/06/13
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LUV

Southwest

$51.85

-0.14 (-0.27%)

09:47
06/21/18
06/21
09:47
06/21/18
09:47
Rumors
Rumor moving shares of Southwest »

Rumor: Southwest active…

03/08/13
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03/08/13
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03/06/13
Citigroup
03/06/13
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  • 26

    Jul

GKOS

Glaukos

$41.92

-2.61 (-5.86%)

09:47
06/21/18
06/21
09:47
06/21/18
09:47
Hot Stocks
Glaukos falls -6.0% »

Glaukos is down -6.0%, or…

03/08/13
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03/06/13
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CHGG

Chegg

$27.80

-1.62 (-5.51%)

09:47
06/21/18
06/21
09:47
06/21/18
09:47
Hot Stocks
Chegg falls -5.5% »

Chegg is down -5.5%, or…

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  • 21

    Jun

MEI

Methode Electronics

$45.40

(0.00%)

09:47
06/21/18
06/21
09:47
06/21/18
09:47
Hot Stocks
Methode Electronics falls -7.1% »

Methode Electronics is…

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  • 21

    Jun

TEO

Telecom Argentina

$20.81

(0.00%)

09:47
06/21/18
06/21
09:47
06/21/18
09:47
Hot Stocks
Telecom Argentina rises 10.6% »

Telecom Argentina is up…

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SUPV

Grupo Supervielle

$15.14

1.45 (10.59%)

09:47
06/21/18
06/21
09:47
06/21/18
09:47
Hot Stocks
Grupo Supervielle rises 11.7% »

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BMA

Banco Macro

$73.54

8.22 (12.58%)

09:47
06/21/18
06/21
09:47
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09:47
Hot Stocks
Banco Macro rises 12.7% »

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09:45
06/21/18
06/21
09:45
06/21/18
09:45
General news
Minneapolis Fed dove Kashkari sees no signs of overheating »

Minneapolis Fed dove…

09:45
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06/21
09:45
06/21/18
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General news
Leading Indicators to be reported at 10:00 »

May Leading Indicators…

WDC

Western Digital

$80.17

(0.00%)

09:43
06/21/18
06/21
09:43
06/21/18
09:43
Technical Analysis
Technical Take: Western Digital moves higher, levels to watch »

The stock is…

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HPQ

HP Inc.

$23.31

(0.00%)

09:42
06/21/18
06/21
09:42
06/21/18
09:42
Recommendations
HP Inc. analyst commentary  »

HP Inc stock buyback is…

03/08/13
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WMGI

Wright Medical

$27.23

(0.00%)

09:41
06/21/18
06/21
09:41
06/21/18
09:41
Conference/Events
Wright Medical has a conference call hosted by JPMorgan »

JPMorgan Analyst Marcus…

03/08/13
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  • 25

    Jun

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PG

Procter & Gamble

$75.85

(0.00%)

09:41
06/21/18
06/21
09:41
06/21/18
09:41
Periodicals
P&G execuitve exit may be opportunity to reorganize, Dealreporter says »

After Procter &…

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09:40
06/21/18
06/21
09:40
06/21/18
09:40
Conference/Events
Joint Economic Committee to hold a hearing »

The Joint Economic…

Z

Zillow

$64.67

(0.00%)

, KR

Kroger

$26.21

(0.00%)

09:40
06/21/18
06/21
09:40
06/21/18
09:40
Options
Unusually active option classes on open June 21st »

Unusual total active…

Z

Zillow

$64.67

(0.00%)

KR

Kroger

$26.21

(0.00%)

SIRI

SiriusXM

$7.51

(0.00%)

JNJ

Johnson & Johnson

$122.05

(0.00%)

PG

Procter & Gamble

$75.85

(0.00%)

LRCX

Lam Research

$174.47

(0.00%)

WDC

Western Digital

$80.17

(0.00%)

INTC

Intel

$53.46

(0.00%)

BOX

Box

$29.00

(0.00%)

MU

Micron

$58.97

(0.00%)

03/08/13
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  • 21

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