Redburn Atlantic upgraded American Airlines (AAL) to Buy from Neutral with a price target of $24, up from $18. While the network airlines have performed well over the past 12 months, positive catalysts from both earnings and free cash flow upgrades through this year creates an attractive entry point at current share levels, the analyst tells investors in a research note. The firm sees the greatest upside to American given the scale of the upgrades it expects to earnings and cash flow estimates, aided by the new credit card deal with Citi.
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