American Airlines price target lowered to $13.50 from $16.50 at Citi

Citi analyst Stephen Trent lowered the firm’s price target on American Airlines to $13.50 from $16.50 and keeps a Buy rating on the shares. American’s rollback from its previous revenue management strategy, including the related guidance cut, suggests that Citi’s expectations for an earnings inflection point may have been several months too early, the analyst tells investors in a research note. The firm says that going forward, any indications that management is succeeding with its plans, along with factors that could potentially boost investor risk appetite, could support the stock.