Analyst upgrades AMR from "sell" to "neutral"

08/30/2011 | Barron's (subscription required)

James Higgins, an analyst at Ticonderoga Securities, has lifted his outlook on American Airlines' parent, AMR, from "sell" to "neutral." Higgins praised AMR's decision to buy 460 Boeing 737 planes, which will build a more fuel-efficient fleet with lower maintenance costs. "In our view, there are far better opportunities in this beaten-down group, but with ample cash and a scant $1.1 billion in equity market value representing only 6% of adjusted enterprise value, we believe the reward/risk outlook for the shares is close to even," said Higgins.

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