Why American Airlines Stock Is Gaining Altitude Today
A day after American Airlines Group (NASDAQ: AAL) reported a smaller-than-expected first-quarter loss, Wall Street is climbing on board. A slew of upgrades and price target boosts had the stock up by as much as 5% in Friday morning trading.
The airline industry has been slow to recover from the impact of the pandemic, and American has long been viewed as a more vulnerable operation than most of its peers. When COVID-19 first hit, it was not as far along in its turnaround as some rivals, and had a higher debt total than most of them. But the airlines have navigated the crisis more effectively than many expected them to back when demand for passenger flights was practically nonexistent, and now, with travel on the rebound, American looks poised to go along for the ride.
Image source: American Airlines.
Source Fool.com
