Market Overview

UPDATE: J.P. Morgan Downgrades AMR on Lack of Upside Potential

Share:
Related AAMRQ
Mid-Afternoon Market Update: Markets Gain on Jobs Number; InterOil Falls on Sale of Major Asset
Southwest Airlines Acquires 12 Slots At New York's LaGuardia Airport

In a report published Wednesday, J.P. Morgan analyst Jamie Baker downgraded the rating on AMR (OTC: AAMRQ) from Overweight to Neutral, but raised the price target from $9.50 to $10.50.

In the report, J.P. Morgan noted, “Settlement momentum allows us to boost our AMR-LCC merger probability to the 70-75% range, from last month's 60% level. According to our otherwise-unchanged analysis, this supports a revised fair value of $10.50 for AAMRQ, assuming deal/no-deal goal posts of $13.00/$3.50. Given the paucity of forecasted upside potential from current levels, the economic uncertainty associated with settlement concessions, and lack of downside clarity, our earlier Overweight rating drops to Neutral.”

AMR closed on Tuesday at $9.68.

Latest Ratings for AAMRQ

DateFirmActionFromTo
Nov 2013JP MorganDowngradesOverweightNeutral

View More Analyst Ratings for AAMRQ
View the Latest Analyst Ratings

Posted-In: J.P. Morgan Jamie BakerAnalyst Color Downgrades Analyst Ratings

 

Related Articles (AAMRQ)

View Comments and Join the Discussion!

Latest Ratings

StockFirmActionPT
AMTDMorgan StanleyUpgrades65.0
APOMorgan StanleyDowngrades34.0
ARMKBairdUpgrades44.0
CGMorgan StanleyDowngrades23.0
EIXEdward JonesDowngrades0.0
View the Latest Analytics Ratings
Don't Miss Out!
Join Our Newsletter
Subscribe to:
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Fintech Focus
Your weekly roundup of hot topics in the exciting world of fintech.
Thank You
for registering for Benzinga’s newsletters and alerts.
• The Daily Analysts Ratings email will be received daily between 7am and 10am.
• The Market in 5 Minutes email will be received daily between 7am and 8am.
• The Fintech Focus email will be received every Friday between 2pm and 5pm.

UPDATE: SunEdison Posts Q3 Net Loss

UPDATE: Ralph Lauren Posts Upbeat FQ2 Profit, Lifts Dividend