Sterne Agee raises its rating on US Airways Group LCC from Neutral to Buy and increases its price target from $14 to $18 on stronger domestic outlook and acquisition optionality.
Sterne Agee notes, "While perhaps somewhat late to the game, we are upgrading the shares of US Airways from Neutral to Buy - the primary catalysts are lower fuel prices, stronger-than-expected domestic yields, and the ability to navigate the current tight capacity environment better than we had expected. With recent news out of AMR (AAMRQ - $0.52, Neutral), LCC may now have additional optionality into that outcome."
LCC closed at $11.32 on Friday.
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