Adam Jonas, an analyst from Morgan Stanley, maintained the Buy rating on Avis Budget. The associated price target remains the same with $115.00.
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Adam Jonas has given his Buy rating due to a combination of factors that highlight Avis Budget’s strategic positioning and growth potential. The recent partnership with Waymo, a leader in autonomous vehicle technology, is a significant development. This collaboration is set to enhance Avis’s fleet management capabilities, leveraging their expertise in vehicle readiness and maintenance to support Waymo’s ride-hailing services. The expansion plans to multiple cities further underscore the potential for growth and increased market presence.
Additionally, Avis’s stock performance has been robust, with a substantial increase in share value driven by stable used car prices and strategic investments in the mobility sector. The company’s ability to adapt to technological advancements in electrification and autonomy positions it well within the evolving mobility ecosystem. Avis’s experience in managing vehicle services and financial operations provides a solid foundation to capitalize on emerging opportunities in the shared mobility space.