BofA analyst John Babcock lowered the firm’s price target on Avis Budget (CAR) to $105 from $120 and keeps a Buy rating on the shares. The firm notes that its Q1 estimates for the U.S. rental car industry are largely unchanged as discussions have indicated that demand remained solid even as TSA passenger volume growth stalled, but it adjusted 2025 forecasts in consideration of the announced tariffs, notably the 25% tariffs on autos and auto parts imports, and its latest trade checks.
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