American Airlines upgraded on growing 'revenue per seat mile': 4 big analyst picks

Investing.com — Here is your Pro Recap of the biggest analyst picks you may have missed today: upgrades at American Airlines, Regency Centers, SentinelOne , and International Flavors & Fragrances.

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American Airlines gains on upgrade

American Airlines (NASDAQ:AAL) shares rose more than 1% pre-market today after Wolfe Research upgraded the company to Outperform from Peerperform with a price target of $17.00, as reported in real-time on InvestingPro.

The analysts remarked that their Airline Index has lagged behind the S&P 500 for four consecutive years. In the past year, every airline stock underperformed due to accelerating capacity growth and weakening pricing.

Entering 2024, the analysts observe mixed trends but see the potential for Revenue per Available Seat Mile (RASM) to inflect back positive later this year as capacity growth slows. 2024 is viewed as a bridge year for airlines as EPS hopefully troughs.

Regency Centers upgraded at Evercore

Evercore ISI upgraded Regency Centers (NASDAQ:REG) to Outperform from In Line and raised its price target to $71.00 from $69.00.

The analysts explained the upgrade by highlighting Regency's improved relative value following its underperformance compared to peers year-to-date. They noted that Regency is trading at a significant discount compared to the REIT average on a forward AFFO multiple basis, whereas it traditionally had a premium. Given this context and considering Regency's strong balance sheet, the analysts view the company as having a favorable risk/reward profile.

Two more upgrades

BTIG upgraded SentinelOne (NYSE:S) to Buy from Neutral with a price target of $30.00. As a result, shares gained more than 5% pre-market today.

Morgan Stanley upgraded International Flavors & Fragrances (NYSE:IFF) to Overweight from Equalweight and raised its price target to $90.00 from $81.00.

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