Wolfe Research analyst Scott Group upgraded American Airlines to Peer Perform from Underperform without a price target. American Airlines’ stock is down 15% in the past six trading and remains heavily shorted with a 10% short interest, but it’s been consistently executing and making/beating estimates in recent quarters while running a fairly clean operation, the analyst tells investors in a research note. Underlying fundamentals continue to favor legacy carriers given strong international pricing and demand trends, and better underlying cost trends, the firm adds.
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