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Fly News Breaks for July 13, 2016
AAL
Jul 13, 2016 | 07:48 EDT
Cowen believes American Airlines shares are incredibly cheap and the stock current price may be forecasting a doomsday scenario as it has underperformed its peers. The firm recommends the shares despite their recent bounce, as they have increased confidence in their above consensus estimates. Cowen said their estimates are based in part by contributions from the new credit card agreement, rising fares, and continued share repurchases. Cowen reiterated its Outperform rating and $42 price target on American Airlines shares.
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