UPDATE: Imperial Capital Raises PT to $28 on US Airways Group on New Earnings Guidance
Imperial Capital reiterated its Outperform rating on US Airways Group (NYSE: LCC) and increased its price target from $20 to $28.
In the report, Imperial Capital notes, "We are raising our 2012 estimates to reflect new earnings guidance US Airways provided on 7/5/12. The company is able to fully benefit from the drop in fuel prices as a result of forgoing fuel hedging. Management also guided to lower cost estimates than our model forecasts."
Shares of US Airways Group were trading at $13.49 at the time of posting, up 2.12% from Tuesday's market close.
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