Imperial Capital reiterates its Outperform rating on US Airways Group LCC and increases its price target from $20 to $28.
Imperial Capital notes, "We are raising our 2012 estimates to reflect new earnings guidance US Airways provided on 7/5/12. The company is able to fully benefit from the drop in fuel prices as a result of forgoing fuel hedging. Management also guided to lower cost estimates than our model forecasts."
US Airways Group closed at $13.21 on Tuesday.
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