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CAR

Avis Budget

$38.80

0.07 (0.18%)

17:43
02/15/18
02/15
17:43
02/15/18
17:43

Avis Budget's biggest holder SRS seeks additional board seats, WSJ says

SRS Investment Management, the largest investor in Avis Budget Group, with a 14.7% stake in the company's voting shares and and another 16% in derivatives, is making moves to "shake up the car-rental car company's board of directors, a ratcheting up of several years of tension between the two about how to boost the stock," says the Wall Street Journal. Reference Link

CAR Avis Budget
$38.80

0.07 (0.18%)

02/14/18
02/14/18
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. PepsiCo (PEP) downgraded to In Line from Outperform at Evercore ISI with analyst Robert Ottenstein saying that while the company's dividend increase is "important and positive," he no longer expects the company to outperform in the beverage sector amid an "array of issues" at North America Beverage segment limiting upside performance. 2. Spark Therapeutics (ONCE) downgraded to Neutral from Overweight at JPMorgan with analyst Cory Kasimov saying he remains optimistic about the long-term outlook for the company, but notes the shares are now within 10% of his price target following the recent rally. 3. Chimerix (CMRX) downgraded to Underweight from Neutral at JPMorgan with analyst Jessica Fye saying with base-case timing for the AdAPT data well over a year away, the shares will underperform over the near term. 4. Avis Budget (CAR) downgraded to Sell from Neutral at Goldman Sachs with analyst David Tamberrino saying he 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. 5. Lexicon (LXRX) downgraded to Underweight from Neutral at JPMorgan with analyst Jessica Fye saying the Xermelo launch remains slow, and consensus estimates of $55M and $99M for 2018 and 2019 are too high. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
02/14/18
GSCO
02/14/18
DOWNGRADE
GSCO
Sell
Avis Budget downgraded to Sell from Neutral at Goldman Sachs
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.
11/08/17
JPMS
11/08/17
NO CHANGE
Target $47
JPMS
Overweight
Avis Budget selloff on Q3 miss overdone, says JPMorgan
JPMorgan analyst Samik Chatterjee views the selloff in Avis Budget following the Q3 miss as overdone. The analyst believes the company's drivers of profitability remain favorable. He keeps an Overweight rating on the shares while lowering his price target to $47 from $50.
10/12/17
MKMP
10/12/17
NO CHANGE
Target $49
MKMP
Buy
Car rental group earnings to inflect on improved fundamentals, says MKM Partners
MKM Partners analyst Christopher Agnew raised his price target on Avis Budget Group (CAR) to $49 from $39 and Hertz Global (HTZ) to $36 from $22, maintaining a Buy rating on both stocks. Agnew says the earnings momentum for the group is at an upward inflection point thanks to sustained improvement in core fundamentals, as net pricing is turning positive. Agnew also notes other catalysts for these stocks, including overly high 40-50% short interest and cost reductions driven by "connected-cars" technology improvements.

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BHVN

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TSRO

Tesaro

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GlaxoSmithKline

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NWARF

Norwegian Air Shuttle

$0.00

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ASX

ASE Technology

$3.77

-0.06 (-1.57%)

05:39
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Earnings
ASE Technology reports November revenue down 3.2% to $1.23B »

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EQT

EQT Corporation

$18.42

0.41 (2.28%)

05:38
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Periodicals
Rice Energy brothers want to take over running EQT, WSJ reports »

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ALNY

Alnylam

$74.28

-5.45 (-6.84%)

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BMY

Bristol-Myers

$53.08

-0.16 (-0.30%)

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QDEL

Quidel

$48.48

-12.835 (-20.93%)

05:35
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IQ

iQIYI

$18.51

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China Mobile

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CHL

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QDEL

Quidel

$48.48

-12.835 (-20.93%)

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RHHBY

Roche

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EA

Electronic Arts

$82.57

-1.29 (-1.54%)

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GILD

Gilead

$68.17

-2.01 (-2.86%)

, RHHBY

Roche

$0.00

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Gilead

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RHHBY

Roche

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FIVE

Five Below

$95.53

-6.19 (-6.09%)

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GMXAY

Genmab

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UCB

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SWTUY

Swedish Orphan Biovitrum

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MOR

MorphoSys

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-0.105 (-0.38%)

, JNJ

Johnson & Johnson

$145.38

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Johnson & Johnson

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