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Morgan Stanley gives the rally in Avis Budget Group (CAR) some more room to run. "Avis has had a tremendous run since the March 2020 lows, up over 700%. Given the strong run, we summarize some reasons for and against staying long. Overall, we remain convicted and subsequently raise our PT to $67, implying a multiple of 8.1x 2023 EV/EBITDA, on MSe."The firm keeps an Overweight rating on Avis Budget. AVIS traded at a 52-week high of $66.02 yesterday. The company announced a $350M senior note offering earlier today.