American Airlines Group Inc (NASDAQ:AAL) applauds today’s announcement by the United States Department of Homeland Security (DHS) and Customs and Border Protection (CBP) for their plans to enter negotiations to expand preclearance operations to 10 key gateway airports – seven of which are served by American.
“Expanding air preclearance is a tremendous step forward for improving the overall travel experience for our customers and welcoming more visitors to the United States,” said Robert Isom, chief operating officer forAmerican Airlines. “Preclearance eases the congestion at our U.S. gateway airports and ensures our customers get to their destinations faster. We fully support Secretary Jeh Johnson and the Obama Administration’s plans for bringing more tourists to the United States, and we are excited to begin discussions on expanding preclearance facilities.”
American currently serves seven of the airports on the list for potential preclearance expansion – London Heathrow; Manchester, England; Tokyo’s Narita International; Spain’s Madrid-Barajas; Brussels; Amsterdam Schiphol; and Punta Cana International in the Dominican Republic.
At preclearance facilities, CBP Officers are stationed abroad to screen passengers and their accompanying goods or baggage heading to the United States. CBP Officers retain the authority to inspect these passengers after arriving in the U.S.
American will continue to work with DHS and CBP to ensure the negotiations are successful. (Original Source)
Shares of American Airlines closed today at $42.37, up $0.40 or 0.95%. 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 $47.89 and its 200-day moving average is $49.10.
On the ratings front, American Airlines has been the subject of a number of recent research reports. In a report issued on April 27, Imperial analyst Bob McAdoo maintained a Buy rating on AAL, with a price target of $82, which implies an upside of 97% from current levels. Separately, on April 1, Deutsche Bank’s Michael Linenberg downgraded the stock to Hold 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, Bob McAdoo and Michael Linenberg have a total average return of 23.3% and 27.3% respectively. McAdoo has a success rate of 65.5% and is ranked #55 out of 3610 analysts, while Linenberg has a success rate of 67.1% and is ranked #83.
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.