American Airlines (AAL) stock is flying high in pre-market trading on Thursday, soaring 5.05% following a positive analyst action. The surge comes as investors react to an improved outlook for the airline giant.
The catalyst for the pre-market rally appears to be Barclays' decision to raise its price target for American Airlines. The investment bank has increased its target from $11 to $12, signaling growing confidence in the airline's prospects. This upgrade suggests that Barclays sees potential upside for American Airlines' stock, which has likely encouraged investors to bid up the shares ahead of the regular trading session.
Adding to the positive sentiment in the airline sector, industry peer Delta Air Lines (DAL) reported better-than-expected second-quarter earnings earlier today. Delta's strong performance, beating Wall Street's expectations with adjusted earnings per share of $2.10 on revenue of $16.7 billion, may be contributing to a broader optimism about the airline industry. This positive momentum could be spilling over to other major carriers like American Airlines, further fueling its pre-market gains.
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