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Why Shares of Avis Budget Group Rose as High as 7% on Monday

Eric Volkman, The Motley Fool
Why Shares of Avis Budget Group Rose as High as 7% on Monday

Avis Budget Group (NASDAQ: CAR) continued to accelerate on Monday, following a significant upgrade and recommendation change on the stock from Morgan Stanley on the previous trading day. This propelled Avis to not only a double-digit gain in Thursday trading but to also move it 7% higher at one point on Monday. Prices for Avis' fleet components won't fall as much as he previously anticipated in the wake of the economy-draining coronavirus outbreak -- 5%, as opposed to the former 10% estimate.