Avis Budget Group, Inc. (CAR)
by Zacks Equity ResearchJune 26, 2012 | Comments : 0 Recommended this article: (0)
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Buoyed by improved quarterly results, the company expects fiscal 2012 earnings in the range of $2.35 to $2.65 per share, an increase of 42% - 61% from the previous fiscal year. We believe Avis Budget's strong focus on cost reductions will help the company to achieve its goal of higher operating margins. Moreover, the new sales force in the European region is expected to further augment its fiscal 2012 revenue.
Avis Budget's continuous effort of introducing new ideas and investments in technology upgrades will likely boost the company's performance. Currently, we are maintaining a long-term Outperform recommendation on the stock. Our target price of $16.00, 6.5x 2012 EPS, reflects this view.
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