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Uber Technologies (UBER) and Avis Budget Group (CAR) saw significant stock increases of +7% and +17% respectively on a recent Tuesday, amid broader market optimism, including hopes for an Israel-Iran truce and potential interest rate cuts from the Federal Reserve.
Uber’s stock surge follows its announcement to expand fully autonomous robotaxi services to more U.S. cities through its partnership with Waymo, while Avis is thriving by upgrading its fleet with electric vehicles (EVs) and improving operational performance with investments in EV infrastructure. Zacks estimates project Uber’s sales to increase by 15% and Avis to see 2% sales growth by fiscal 2026.
Currently, Uber trades at a forward P/E of 29.4X, while Avis at 54.7X. Despite the high metrics, both companies demonstrate strong future growth potential, with Zacks assigning a Hold rating for both stocks.
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