Stock Update (NASDAQ: AAL): American Airlines Pilots Approve Contract
The Allied Pilots Association (APA), representing 15,000 pilots at American Airlines (NASDAQ: AAL), announced today its members have approved a new five-year contract which provides immediate pay raises of 23 percent and subsequent annual raises of three percent for the next five years. American Airlines President Scott Kirby said, “Today’s results provide immediate and significant pay increases to our pilots, and represent another step forward in our integration. We are especially pleased that American is in a position to support pay increases that recognize the contributions of our pilots this early in our integration. We also acknowledge and applau… Read more »
Shares of American Airlines opened today at $52.02 and are currently trading down at $50.6. 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 $51.82 and it’s 200-day moving average is $42.64.
On the ratings front, American Airlines has been the subject of a number of recent research reports. In a report released yesterday, Credit Suisse analyst Julie Yates downgraded AAL to Hold, with a price target of $65, which reflects a potential upside of 25.0% from last closing price. Separately, on the same day, Gimme Credit’s Vicki Bryan downgraded the stock to Hold .
In total, 2 research analysts have assigned a Hold rating and 7 research analysts have given a Buy rating to the stock. When considering if perhaps the stock is under or overvalued, the average price target is $52.02 which is 29.1% above where the stock opened today.
American Airlines Group Inc, through its subsidiaries, operates in the airline industry.