American Airlines falls as Bernstein downgrades to ‘market-perform’
American Airlines AAL.O shares fall 1.2% to $10.45 in premarket trading
** Bernstein downgrades carrier’s rating to “market-perform” from “outperform”, cuts price target to $12 from $18
** “AAL has been losing share in high-value business markets and is currently commercially rudderless in the face of some material network headwinds,” Bernstein says
** As the company now works to turn around its business, brokerage sees slow recovery for the carrier
** The new price target represents a 13% upside to the stock’s last close
** 7 of 21 brokerages rate the stock “buy” or higher, 12 “hold” and 2 “sell”; their median PT is $12
** YTD, stock down 23%
