Jefferies upgraded American Airlines to Buy from Hold with an $18 price target, arguing “defense is the best offense in 2024” in the U.S. airlines group. The firm cites American’s improving aircraft utilization, modern fleet age and “prudence” to 75% short-haul, 25% long-haul flights, adding that it views the March 4 Investor Day as likely to highlight premium upside and AAdvantage.
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