Zipcar, the company that rents cars by the hour or day, climbed to a six-week high after Goldman Sachs raised its rating on the stock to buy.
The shares gained 7.1 percent to $7.53 in New York for their highest close since Oct. 8. Zipcar has declined 44 percent this year.
Goldman raised its 12-month price target on Zipcar’s shares to $8.75 from $8. The stock reached a closing peak of $29.27 on April 19, 2011, six days after Zipcar’s initial public offering.