UPDATE: Deutsche Bank Upgrades US Airways Group to Buy, Raises PT on Improved Outlook

In a report published Thursday, Deutsche Bank analyst Michael Linenberg upgraded the rating on

from Hold to Buy, and raised the price target from $21.00 to $30.00. In the report, Deutsche Bank noted, “We are raising our rating on US Airways's shares from Hold to Buy based on an improved fundamental outlook that, in our opinion, transcends the potential uncertainty surrounding the company's proposed merger with American which has been blocked by the DOJ. The improvement observed in the Sep Q (e.g. pretax margin expanded 4 points to 9.5%) combined with material revisions to our 2013 and 2014 EPS estimates underlie a revised 12 month price target of $30 implying upside of 40% for LCC shares. We believe that math is too compelling to disregard despite regulatory uncertainty that may not be resolved until early 2014. Hence our upgrade of LCC shares to a Buy.” US Airways Group closed on Wednesday at $21.40.