BofA analyst Andrew Didora raised the firm’s price target on American Airlines (AAL) to $12 from $10 and keeps an Underperform rating on the shares. A better cost outlook, coupled with a slightly better revenue cadence throughout 2024, leads the firm to raise its 2024 EPS view to $2.65 from $2.08, though it notes this is in the lower half of the $2.25-3.25 full year outlook provided by the company. The firm cites a valuation premium to Delta (DAL) and United (UAL) in maintaining its Underperform rating on American.
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