Imperial Capital Raises Price Target on American Airlines (AAL) Following 3Q EPS Beat
- Wall Street falls as investors ready for Trump's inauguration
- IBM (IBM) Tops Q4 EPS by 13c, FY17 EPS Guidance Beats Consensus
- American Express (AXP) Misses Q4 EPS by 7c, FY17 EPS Guidance Tops Views at Mid-Poinit
- Skyworks Solutions (SWKS) Tops Q1 EPS by 3c, Offers Q2 Guidance, Announces Buyback
- After-Hours Stock Movers 01/19: (SWKS) (QRVO) (NVAX) Higher; (AFMD) (SGYP) (IBM) Lower (more...)
Get instant alerts when news breaks on your stocks. Claim your 2-week free trial to StreetInsider Premium here.
Imperial Capital reiterated an In-Line rating on American Airlines (NASDAQ: AAL), and raised the price target to $43.00 (from $40.00), following the company's 3Q earnings report. AAL reported EPS of $1.76, versus estimates of $1.65. The beat was driven by a better than anticipated RASM which declined 2.2% versus expectations for a decline of 4.0%. AAL expects November 2016 to January 2017 domestic RASM to be flat to modestly higher based on current booking trends, confirming commentary by its Big 3 peers.
Analyst Michael Derchin commented, "We are maintaining our In-Line rating and lowering our estimates on higher labor and fuel costs, but increasing our one-year price target on AAL shares to $43 from $40 on higher valuations due to improving unit revenue trends. We now estimate FY17 RASM will increase by 1.0% versus a decline of 1.0% previously. Our price target is about 6% above the recent share price. We are lowering our 4Q16 EPS estimate to $0.63 from $0.85, our FY16 estimate to $5.47 from $5.55, our FY17 EPS estimate to $4.78 from $4.90, and our FY18 estimate to $5.42 from $5.47."
Shares of American Airlines closed at $40.59 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Netflix (NFLX) PT Raised to $150.00 at BMO Capital; Keeps 'Market Perform'
- Goldman Sachs (GS) PT Raised to $256.00 at Oppenheimer Following 4Q Report
- Cree (CREE) PT Raised to $23 at Canaccord Genuity
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change
Related EntitiesEarnings, Imperial Capital
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!