American Airlines price target raised to $21 from $20 at Bernstein

Bernstein raised the firm’s price target on American Airlines to $21 from $20 and keeps an Outperform rating on the shares. The analyst says American’s investor day targets came in ahead of Street expectations, but the share response was muted by concerns about near term, an aircraft order, and perceived lack of specificity on how targets will be achieved. The firm, however, does not equate the lack of an earnings bridge to lack of a strategy, and sees upside to estimates driven by steady execution and the card program renewal.