Americans are putting the pedal to the metal this summer, and auto retail stocks are taking off.
Avis was also upgraded at Morgan Stanley to overweight with a price target that implies 43% upside.
“I look at this upgrade on Avis … and I think a couple observations. The stock is up 235% off of the lows. And from a technical perspective, you’re coming right up into this downtrend resistance line,” Craig Johnson, chief market technician at Piper Sandler, told CNBC’s “Trading Nation” on Thursday. “I’d rather be fading this…