Why Did American Airlines Stock Fall 7%?

Why Did American Airlines Stock Fall 7%?

According to tipranks.com, American Airlines Group Inc. (NASDAQ: AAL) has disappointed investors by making changes in its projections for the second quarter of 2022. All the alterations were announced by the airlines at the Bernstein 38th Annual Strategic Decisions Conference held on June 3, 2022.

Shares of American Airlines declined 7.1% to close at $16.22 on previous Friday and the downward movements also continued in the extended trading session.

AAL’s average price target is pegged at $19.44, reflecting 19.85% upside potential from the current level. Over the past year, shares of American Airlines have declined 33.1%. Three days ago, Catherine O’Brien of Goldman Sachs reiterated a Sell rating on AAL while increasing the price target to $13 (19.85% downside risk) from $12.

Healthy demand for business and leisure purposes, both domestically and internationally, is proving advantageous for American Airlines. However, low capacity and high fuel costs remain headwinds.



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