UPDATE: J.P. Morgan Upgrades US Airways Group on Multiple Positive Factors
In a report published Tuesday, J.P. Morgan analyst Jamie Baker upgraded the rating on US Airways Group (NYSE: LCC) from Neutral to Overweight, and raised the price target from $18.00 to $26.00.
In the report, J.P. Morgan noted, “Cost convergence, fare unbundling, widespread consolidation, diminished new entrant activity, and return-oriented management teams have combined to form an industry that is actually managing itself for the first time we can recall. This stands in sharp contrast to the historical tendency to wage wars of attrition. As a result, we believe the US airline industry will continue to take steps to ensure profitability and continued balance sheet repair. As such, we recommend investors focus on airline stocks such as LCC, which we rate Overweight given compelling valuation, favorable industry dynamics, and a network proposition better than what most appear to believe (particularly in the absence of consolidation).”
US Airways Group closed on Monday at $18.07.
Latest Ratings for LCC
Date | Firm | Action | From | To |
---|---|---|---|---|
Nov 2013 | Imperial Capital | Maintains | Outperform | |
Nov 2013 | Imperial Capital | Maintains | Outperform | |
Oct 2013 | Deutsche Bank | Upgrades | Hold | Buy |
View More Analyst Ratings for LCC
View the Latest Analyst Ratings
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