S&P Equity Research Reiterates HOLD Rating on AMR Corp Stock

October 04 00:00 2011

NEW YORK, October 4 (RainbowNewsLine.com) – Analyst Jim Corridore of S&P Equity Research reiterates his HOLD rating on AMR CORP (NYSE: AMR)

Analyst Jim Corridore, in a research note published yesterday, mentions that after reports by AP, Reuters, AMR shares fell  35% and some expressed concerns if AMR signaling bankruptcy symptoms. Despite having $ 5.0 billion in cash and investments at the end of second quarter, it is still seen as financially weakest US airlines. Analysts have forecasted a loss of $110 million in the third quarter and they believe that the company is not wasting their monetary assets. Due to this reason, the company might face high costs, pension obligations, and debt on a long term horizon but it would be unexpected to see the company registering for bankruptcy in coming 12 months, the analyst adds.

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