American Airlines Analysts Increase Their Forecasts Following Upbeat Earnings

American Airlines Group Inc AAL reported better-than-expected fourth-quarter results on Thursday.

American Airlines reported a 75% drop in adjusted earnings to $0.29 per share in the fourth quarter of 2023 but still came in well above the consensus estimate of $0.10. Total revenue decreased 1% to $13.06 billion, just beating estimates of $13.02 billion, according to data from Benzinga Pro.

American Airlines expects its first-quarter 2024 adjusted loss per diluted share of ($0.15)-($0.35), versus the consensus of $(0.17). The company expects its full-year 2024 adjusted earnings per diluted share of $2.25-$3.25 versus the consensus of $2.25. The company expects its first-quarter 2024 capacity to be up approximately 6.5% to 8.5% Y/Y, with full-year capacity to be up mid-single digits Y/Y.

American Airlines shares fell 1.1% to trade at $15.19 on Friday.

These analysts made changes to their price targets on American Airlines after the company reported quarterly results.

• TD Cowen raised the price target on American Airlines from $14 to $21. TD Cowen analyst Helane Becker upgraded the stock from Market Perform to Outperform.
• JP Morgan boosted American Airlines price target from $19 to $22. JP Morgan analyst Jamie Baker maintained an Overweight rating.
• Barclays increased the price target on American Airlines from $13 to $14. Barclays analyst Brandon Oglenski maintained an Underweight rating.
• Seaport Global analyst Daniel Mckenzie upgraded American Airlines from Neutral to Buy.

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