American Airlines price target lowered to $23 from $24 at Raymond James

Raymond James lowered the firm’s price target on American Airlines (AAL) to $23 from $24 and keeps an Outperform rating on the shares. American’s EPS guidance miss is largely explained by the recent steep step-up in fuel prices and cadence of year-over-year CASM-ex pressure, the analyst tells investors in a research note. Raymond James believes the stock can continue to grind higher over the next 12 months.