Jefferies upgraded American Airlines (AAL) to Buy from Hold with a price target of $20, up from $12. The firm’s 2025 EPS estimate of $2.55 is 14% above the Street from higher TRASMs, while the industry backdrop supports low-single digit Mainline TRASMs with American set to outperform from distribution recapture of the $1.5B from FY24, the analyst tells investors. In addition, the company’s credit card deal locks in $1.5B incremental pre-tax growth by FY30 versus FY24, the analyst added.
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