Avis shares soar 7% as Goldman upgrades to buy from sell
Shares of Avis Budget Group Inc. CAR, +7.59% soared 7.1% Monday, after Goldman Sachs upgraded the stock to buy from sell, saying valuation looks attractive as most of the headwinds facing the company and industry are priced in. "Further, between the two public Rental Car companies, we view CAR as the better operator and should be able to improve results (EBITDA and Free cash flow) through cost optimization strategies in 2019+," analysts led by David Tamberrino wrote in a note. "And while we still see challenges facing the industry - as we think there is a lack of discipline over a long time period, we think pricing and volume* are holding up well and residual value risk may be skewed to the upside as Auto OEMs have shown discipline recently on incentives." Goldman said it is sticking with a sell rating on Hertz Global Holdings Inc. HTZ, +7.27% which was up 7.1%. Avis shares have gained 22.5% in 2019 so far, while the S&P 500 SPX, +0.06% has gained 8%.
https://www.marketwatch.com/story/avis-shares-soar-7-as-goldman-upgrades-to-buy-from-sell-2019-02-11?mod=hp_minor_pos19
*volumes across the boards have been well below average and this is no exception.
All it takes is 2 minutes to look it up yourself.
This is a common tactic among the big institutional holder's of equity's. Upgrading each other's major holdings. Quid pro quo.
GS is not among the large institutional owner's of this but they benefit greatly when the other's upgrade the positions that it holds.
The performance of this with large holders of this equity are treading water. Most are down about 3-5% already. These reports are also lagging as these numbers were reported at the close of Q3 and much has changed in these positions. Another aspect of we will tell you what to buy while we sell it.
The institutional positions for Q4 will not be released until the end of Q1…..
https://www.marketwatch.com/story/avis-shares-soar-7-as-goldman-upgrades-to-buy-from-sell-2019-02-11?mod=hp_minor_pos19
https://www.nasdaq.com/symbol/car/institutional-holdings
love the ali RBG last bread
kek