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Analysts at Bank of America hoisted their earnings per share (EPS) estimates on shares of American Airlines Group (NASDAQ:AAL) in a research report issued to clients and investors on Monday, Analyst Ratings Net reports. The firm currently has a “neutral” rating and a $42.00 price target on the company’s shares. They previously had a $40.00 price target on the stock. Bank of America’s price objective points to a potential upside of 19.45% from the stock’s previous close.

The analysts wrote, “The combination of American and US Airways form the world’s largest airline with leading share on the East Coast and in the Midwest of the US and a strong presence on the West Coast. While the combined AMR-LCC network should attract higher high-yielding business customers and AAL has opportunity to trim currently unprofitable off-peak flying, airline mergers are difficult and synergies could be more protracted than most assume. Multiples not overly aggressive and industry fundamentals improved.”

Shares of American Airlines Group (NASDAQ:AAL) traded up 0.64% on Monday, hitting $35.385. The stock had a trading volume of 861,735 shares. American Airlines Group has a one year low of $15.28 and a one year high of $39.88. The stock’s 50-day moving average is $36.40 and its 200-day moving average is $29.96. The company’s market cap is $16.685 billion. American Airlines Group also was the recipient of a significant decrease in short interest in April. As of April 15th, there was short interest totalling 19,628,953 shares, a decrease of 23.3% from the March 31st total of 25,578,918 shares. Based on an average trading volume of 12,820,049 shares, the days-to-cover ratio is presently 1.5 days. Approximately 4.2% of the company’s stock are short sold.

American Airlines Group (NASDAQ:AAL) last posted its quarterly earnings results on Thursday, April 24th. The company reported $0.54 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.48 by $0.06. The company had revenue of $10.00 billion for the quarter, compared to the consensus estimate of $10.02 billion. The company’s quarterly revenue was up 63.9% on a year-over-year basis. On average, analysts predict that American Airlines Group will post $5.09 earnings per share for the current fiscal year.

AAL has been the subject of a number of other recent research reports. Analysts at Barclays raised their price target on shares of American Airlines Group to $41.00 in a research note on Friday. They now have an “equal weight” rating on the stock. Separately, analysts at Imperial Capital raised their price target on shares of American Airlines Group from $43.00 to $46.00 in a research note on Friday. They now have an “outperform” rating on the stock. Finally, analysts at Deutsche Bank raised their price target on shares of American Airlines Group from $42.00 to $45.00 in a research note on Friday. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $42.76.

American Airlines Group Inc, formerly AMR Corporation, operates in the airline industry. The Company’s principal subsidiary is American Airlines, Inc (NASDAQ:AAL).

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