American Airlines today issued the following statement on the reopening of the U.S. Embassy in Havana and the Cuban Embassy in Washington.
“The reopening of the United States and Cuban embassies in Havana and Washington is an important step toward building new commercial relationships and re-establishing scheduled air service between the U.S. andCuba,” said American’s Chairman and CEO Doug Parker. “American Airlines has operated charter flights to Cubafor nearly 25 years and we stand ready to begin scheduled service when it’s allowed.”
American is the leading carrier to the Caribbean with up to 150 daily flights to 31 destinations in the region. In addition, American has operated flights to Cuba since 1991 with charter service from Miami and Tampa to five key destinations – Camagüey, Cienfuegos, Havana, Holguín and Santa Clara. This year, American and Envoy will operate nearly 1,100 charter flights to the island. (Original Source)
Shares of American Airlines opened today at $41.55 and are currently trading down at $40.955. AAL has a 1-year high of $56.20 and a 1-year low of $28.10. The stock’s 50-day moving average is $41.06 and its 200-day moving average is $47.40.
On the ratings front, American Airlines has been the subject of a number of recent research reports. In a report issued on June 25, UBS analyst Darryl Genovesi maintained a Hold rating on AAL, with a price target of $43, which represents a slight upside potential from current levels. Separately, on June 18, Barclays’ Isaac Husseini maintained a Buy rating on the stock and has a price target of $58.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Darryl Genovesi and Isaac Husseini have a total average return of 14.1% and -9.3% respectively. Genovesi has a success rate of 50.0% and is ranked #1347 out of 3712 analysts, while Husseini has a success rate of 33.3% and is ranked #3059.
Overall, 3 research analysts have assigned a Hold rating and one research analyst has given a a Buy rating to the stock. When considering if perhaps the stock is under or overvalued, the average price target is $70.00 which is 68.5% above where the stock opened today.
American Airlines Group Inc, through its subsidiaries, operates in the airline industry. The Company has hubs in Charlotte, Chicago, Dallas/Fort Worth, Los Angeles, Miami, New York City, Philadelphia, Phoenix and Washington, D.C.