Avis Budget price target lowered to $140 from $165 at JPMorgan

JPMorgan analyst Ryan Brinkman lowered the firm’s price target on Avis Budget (CAR) to $140 from $165 and keeps an Underweight rating on the shares. The firm upped its 2026 estimates following the Q1 beat. The reduced price target reflects Avis Budget’s reduced “capital markets optionality premium” post the “short-squeeze,” the analyst tells investors in a research note.