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Avis Budget Downgraded to Underperform by BofA Due to Softening Demand and Pricing Risks
ByAinvest
Thursday, Sep 4, 2025 1:39 pm ET1min read
Avis Budget Group's (CAR) outlook has weakened due to softening demand and pricing risks, according to Bank of America analyst Federico Merendi. Merendi downgraded CAR to Underperform from Buy and lowered his price target to $113 from $120. The analyst cited reduced intentions to increase travel spending, tariffs, and weaker pricing trends as headwinds for CAR's earnings through 2025 and 2026. However, Merendi acknowledged that new initiatives such as the Avis First premium program and a fleet management partnership with Waymo could strengthen the business.
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