Rodman & Renshaw Market Perform on US Airways Group

Rodman & Renshaw is out with a research report on US Airways Group, Inc. (NYSE: LCC) and it has an Market Perform rating and a $9 price target on shares.

In a note to clients, Rodman & Renshaw writes, "Our modestly improved outlook for 2012 is not enough to move our valuation. Our $9 PT is based on shares trading at 10x a depressed, fully taxed 2012 EPS. Shares have bounced 24% from a recent low, but remain down 42% YTD which we believe is an overly pessimistic view of the carrier's fundamentals. Assuming successful review by the DOJ (the DOT has already given its approval), a potential revenue catalyst in 2012 is the LGA/DCA slot swap with Delta. Maintaining our Market Perform rating."

Shares of LCC closed at $5.83 yesterday.