American Airlines Group Inc. AAL shares are trading lower after Goldman Sachs downgraded the stock from Neutral to Sell and lowered its price target from $19 to $18.
Goldman Sachs analyst Catherine O'Brien noted "We remain positive on the path to profitability recovery for the airlines over the medium-term, but we are reducing our Dec Q 2021/2022 outlooks due to higher fuel/worse short-term revenue trends. Heading into 2022, we are forecasting capacity growth to be elevated and for pricing to lag the recovery in traffic."
American Airlines Group Inc., through its subsidiaries, operates as a network air carrier. The company provides scheduled air transportation services for passengers and cargo through its hubs in several cities and countries.
American Airlines' stock was trading about 2.3% lower at $20.97 per share on Wednesday at the time of publication. The stock has a 52-week high of $26.09 and a 52-week low of $10.63.
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