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Stock Alert: Avis Budget Up 19%

Shares Avis Budget Group, Inc. (CAR) gained over 19% on Thursday morning. The company's stock is currently trading at $26.74, up $4.26 or 18.95%, on the Nasdaq.

The car rental company's stock has traded between $6.35 and $52.98 for the year-to-date period.

Used car market is recovering quickly than expected, as auto industry continues to be negatively impacted by the ongoing coronavirus pandemic.

Morgan Stanley upgraded the stock and raised its price target by nearly 50%.

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