Why Avis Budget Group Stock Shot 10% Higher Today

·2-min read
Why Avis Budget Group Stock Shot 10% Higher Today

Thursday morning, Bank of America Securities analyst John Murphy upped his recommendation on the stock to buy from the previous neutral. Avis stock has been on a tear of late, as demand for rental vehicles has risen notably as an increasingly vaccinated population longs to break their stay-at-home isolation for some travel elsewhere (or at least a decent road trip more locally). "Many of the macro factors driving 'over-earning' by the company in 2021 will likely persist well into 2022," he wrote in his latest research note on Avis.

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