American Airlines Group Inc AAL shares are trading lower by $0.65 (1.5 percent) at $39.76 in Wednesday's session. The catalyst for the decline is a Morgan Stanley downgrade from Overweight to Equal-Weight and a lowered price target to $44.00.
This has American Airlines' stock trading lower for the fourth day in a row, falling from its March 16 close ($42.13) to as low as $39.21 earlier in today's session.
After a lower open, it managed a brief bounce that couldn't reach Tuesday's closing price $40.42, with the rally stalling at $39.95. So far, the ensuing decline has taken the stock to $39.21 and it is attempting to rebound.
That low coincides with a pair of lows from November 3 ($39.30) and November 4 ($39.24).
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