UPDATE: Deutsche Bank Lowers PT on AMR to $7

Deutsche Bank is out with its report today on AMR AMR, lowering its PT from $8 to $7. In a note to clients, Deutsche Bank writes, "AMR reported a June Q diluted loss per share of $0.85 (ex-specials), which was modestly worse than both our estimate calling for a loss per share of $0.75 and the consensus loss of $0.73. As we expect continued pressure on AMR's results in the near term, exacerbated by a sluggish economic recovery and elevated energy prices, we are lowering our forecast for the second half and reducing our price target from $8 to $7. Despite the negative revision, our target still represents meaningful upside for a stock that is trading against its two year low and one of the most levered names to an uptick in air travel demand or a pullback in energy prices. Hence our Buy rating." At the time of posting, shares of AMR were trading at $4.44, down 2.42% from Thursday's close.