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AMR Corporation
AMR is anticipating its first profitable quarter in 3 years, as reported in its September quarter so far, according to Deutsche Bank, which writes “based on recent guidance, [we] estimate that AMR will report a net profit for the Sep Q, its first profitable quarter since Sep Q 2007. However, [we] are modestly lowering our Sep Q diluted EPS estimate by a dime from $0.60 to $0.50 (versus consensus of $0.53) to reflect a slightly lower cons'd unit revenue (RASM) gain of 9.8%-10.8% vs. our forecast of 12.4%. Costs are expected to be modestly better than our forecast. Our full year EPS estimate goes from a loss per share of $0.35 to a loss of $0.45 (versus consensus of a loss per share of $0.97).”
Deutsche Bank reiterates its Buy rating and $14 price target.
AMR Corporation closed yesterday $6.88.
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