From Earlier: Bank of America Merrill Lynch Raises US Airways PO on Potential Merger Synergies
Bank of America Merrill Lynch raised its US Airways (NYSE: LCC) price objective from $15.50 to $17 in a research report published today. The ratings firm has a Buy rating on US Airways.
In the report, Bank of America Merrill Lynch stated, "LCC has higher operating and financial leverage than the sector as a whole, which is an asset during a period of improving industry fundamentals. A merger with AMR (as announced) would provide further leverage and upside to LCC shareholders."
Bank of America Merrill Lynch also noted that potential "merger synergies" could add additional value to a future price objective revision.
Shares of US Airways closed today at $13.47, up 1.97% from Tuesday's market close.
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.