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Updated from 11:24 a.m. EDT
Shares of several rental-car companies took it on the chin Monday after Morgan Stanley downgraded the stocks to underweight from equal weight.
The firm cut Avis Budget Group(CAR Quote), Dollar Thrifty(DTG Quote) and Hertz(HTZ Quote), saying that travel is down and that fewer cars are being built for rental companies, which will make the cost of buying cars more expensive.
Avis closed down $1.92, or 6.5%, to $2756. Dollar Thrifty was down $2.40, or 5.7%, to $40.06, and Hertz was off 53 cents, or 2.1%, to $25.01. ...
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