Soleil Securities Upgrades AMR Corp. (AMR) to Buy
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Soleil Securities upgrades AMR Corp. (NYSE: AMR) from Sell to Buy "on improving fundamentals with revenue and cash flow generation significantly more favorable than we had expected and with better apparent liquidity enhancing firepower." The firm also increases their price target from $9 to $12.
Soleil also reduced their loss estimates for 2008 from ($9.35) to ($8.75) and for 2009 from ($8.60) to ($6.00) "due to greater clarity on non-fuel unit costs and better revenue prospects even with higher fuel costs."
AMR Corporation (AMR), through its subsidiaries, operates as a scheduled passenger airline in the United States.
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