Shares of Avis Budget Group Inc. (NASDAQ:CAR) soared to a 52-week high of $190.25, underscoring a powerful rally for the car rental company. The stock has delivered an 82.41% gain over the past year, with even more impressive short-term performance — up 110.26% over six months and 120.57% year-to-date. With a market capitalization of $6.65 billion, the surge reflects investor optimism around the company’s operational resilience and strategic direction.
Avis Budget’s rally comes as the company benefits from strong travel demand and continued tailwinds in the mobility sector. Analysts expect the firm to return to profitability in 2025, reinforcing bullish sentiment despite some mixed guidance.
On the corporate front, Avis Budget recently announced a leadership transition, appointing Daniel Cunha as Chief Financial Officer, effective July 1, 2025. He replaces Izzy Martins in the role. The company also expanded its senior notes offering to $600 million from the originally planned $500 million, with proceeds earmarked for general corporate purposes, including debt reduction.
However, not all analysts are aligned with the market’s enthusiasm. Goldman Sachs recently cut its price target on the stock from $100 to $87 while maintaining a Neutral rating, citing concerns over Q2 revenue expectations and Q1 EBITDA results.
In related corporate news, Resources Connection Inc. (NASDAQ:RGP) announced changes to its Board of Directors, bringing in Jeffrey H. Fox and Filip Gydé, while two veteran directors plan to retire by 2025. Fox and Gydé bring deep expertise in leadership and digital transformation, respectively — signaling strategic shifts ahead for RGP.
Despite the caution from some quarters, the new high for Avis Budget reflects broad investor confidence in the company’s growth story and its positioning within a rebounding travel industry.
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