JPMorgan Chase upgraded shares of US Airways Group (NYSE: LCC) from a neutral rating to an overweight rating in a research report sent to investors on Thursday morning. The firm currently has $18.50 price target on the stock, up from their previous price target of $18.00.
“Last month, we downgraded LCC from OW to Neutral, believing shares adequately reflected a pending merger with LCC’s value portion not expected to top 27%. Two things have happened since: LCC’s value portion emerged at 28% and shares sold off modestly (-12% from the recent 8-Jan-13 peak vs. S&P 500 +3.9%) as some chose to short LCC as a hedge on AMR credit. While there are no changes to our model, the blend of 28% value, 5.2x stand-alone EV/EBITDAR and 7x P/E nudges our price target from $18 to $18.50 and our rating rises to Overweight.,” the firm’s analyst wrote.
Shares of US Airways Group opened at 13.57 on Thursday. US Airways Group has a 52 week low of $6.78 and a 52 week high of $15.64. The stock’s 50-day moving average is currently $14.49. The company has a market cap of $2.205 billion and a P/E ratio of 4.14.
Other equities research analysts have also recently issued reports about the stock. Analysts at UBS AG raised their price target on shares of US Airways Group from $15.00 to $17.00 in a research note to investors on Friday, February 8th. They now have a buy rating on the stock. Separately, analysts at Imperial Capital raised their price target on shares of US Airways Group from $17.00 to $20.00 in a research note to investors on Thursday, January 24th. They now have an outperform rating on the stock. Finally, analysts at Barclays Capital raised their price target on shares of US Airways Group from $14.00 to $17.00 in a research note to investors on Thursday, January 17th. They now have an overweight rating on the stock.
Eleven equities research analysts have rated the stock with a buy rating, two have assigned an overweight rating, and two have given a hold rating to the company. US Airways Group currently has a consensus rating of buy and a consensus target price of $19.54.
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