American Airlines Group Inc (NASDAQ:AAL) shares are trading higher by 2.53% to $19.04 Thursday morning. Shares of several airline stocks are trading higher following better-than-expected second-quarter results from Delta Air Lines, Inc. (NYSE:DAL).
Additionally, Barclays analyst Brandon Oglenski maintained American Airlines with an Underweight and raised the price target from $15 to $18.
What Happened?
Delta Air Lines achieved a significant 19% year-over-year growth in adjusted operating revenue, amounting to $14.61 billion, surpassing the consensus estimate of $14.46 billion. Delta’s adjusted EPS of $2.68 also exceeded the consensus estimate of $2.39.
Total passenger revenue experienced substantial growth, reaching $13.21 billion, a noteworthy 21% increase compared to the previous year. However, cargo revenue declined by 37% year-over-year, amounting to $172 million.
Delta’s operational performance demonstrated positive results, with an adjusted operating income of $2.5 billion, representing an impressive 73% year-over-year increase…Read More
According to data from Benzinga Pro, AAL has a 52-week high of $19.07 and a 52-week low of $11.65.
