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Deutsche Bank Upgrades US Airways Group (LCC) to Buy

October 24, 2013 8:26 AM EDT Send to a Friend
Get Alerts LCC Hot Sheet
Price: $22.55 --0%

Rating Summary:
    9 Buy, 4 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 13 | Down: 24 | New: 21
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Deutsche Bank upgraded US Airways Group (NYSE: LCC) from Hold to Buy with a price target of $30.00 (from $21.00).

"We are raising our rating on US Airways's shares from Hold to Buy based on an improved fundamental outlook that, in our opinion, transcends the potential uncertainty surrounding the company's proposed merger with American which has been blocked by the DOJ," analyst Michael Linenberg said. "The improvement observed in the Sep Q (e.g. pretax margin expanded 4 points to 9.5%) combined with material revisions to our 2013 and 2014 EPS estimates underlie a revised 12 month price target of $30 implying upside of 40% for LCC shares. We believe that math is too compelling to disregard despite regulatory uncertainty that may not be resolved until early 2014."

The firm raised FY 2013 EPS from $3.25 to $3.65.

For an analyst ratings summary and ratings history on US Airways Group click here. For more ratings news on US Airways Group click here.

Shares of US Airways Group closed at $21.40 yesterday.




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