J.P. Morgan analyst downgrades American Airlines Group (AAL)
American Airlines Group (AAL) currently trades at $11.25 and has grown by 18.21% today. J.P. Morgan analyst Jamie Baker downgraded American to underweight from overweight, saying that while he’s not implying that the airline has been “mortally wounded” by the COVID-19 related disruptions. “In our opinion, the margin for error for American management to navigate this crisis outside of the courts is growing uncomfortably thin (and dependent on factors outside of management control, i.e. duration of the virus, traffic recovery cadence, further government support) that we don’t think we’re left with a choice but to downgrade our credit opinion on American as well, to underweight (from our prior neutral on the credit side),” Baker wrote in a note to clients.
Based on this information, investorsQ rates this stock 5 out of 10. We give it this rating based on current information written in this article. The high forecast for American Airlines Group is $41.00 and the low is $5.00. Notably, the company’s market cap is $2.96 with a 52 week high of $35.24 and a 52 week low of $9.09. AAL rose $1.73 from the previous closing price of $9.50. AAL has changed in price by -22.68 per share in the last 12 months.