Avis Budget says demand has been robust since Hurricane Sandy in N.A. In North America, says demand has been robust since Hurricane Sandy. Says leisure pricing has benefited from pricing actions and fleet tightness, says used car market has been solid. Says International and Truck Rental operations have been performing as expected.
Avis Budget higher fleet costs righted by year-end, says JPMorgan JPMorgan believes the higher fleet costs noted yesterday by Avis Budget is more of a transitory issue that will be righted by year-end. The firm views yesterday's pullback in shares as a buying opportunity and keeps an Overweight rating on Avis Budget with a reduced price target of $68.