UPDATE: Sterne Agee Raises PT to $22 on US Airways Group Following Guidance Update
Sterne Agee reiterated its Buy rating on US Airways Group (NYSE: LCC) and raised its price target from $18 to $22 in a research report published Friday morning.
In the report, Sterne Agee noted, "US Airways provided a 2Q guidance update to investors, confirming our belief that fuel prices will flow through to the bottom line, but also that their realized unit revenue increases remain ahead of the industry peers, while unit costs continue to come in better than expected. While investors may be hesitant to credit LCC for future fuel benefits, unit cost discipline should drive EPS higher."
Shares of US Airways Group were trading at $13.78 at the time of posting, up 2.30 percent from Thursday's market close.
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