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Low Airline Expectations Could Actually Yield Slight Upside, JPMorgan Says

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AAL, Delta Air Lines Inc. New NYSE:DAL - Low Airline Expectations Could Actually Yield Slight Upside, JPMorgan Says

Low expectations from airlines could actually yield slight upside in the near term, according to a note from JPMorgan, which prefers Overweight names such as American Airlines Group Inc AAL 0.6%, United Continental Holdings Inc UAL 1.19% and Delta Air Lines, Inc. DAL 0.56%.

"Given the absence of any bona fide 'misses,' diminished investor expectations may actually yield modest equity relief in the near term, given the potential for incremental capacity cuts and 'less bad' RASM commentary as earnings season soon gets underway," analyst Jamie Baker wrote in a note to clients.

Baker noted that "cost convergence, fare unbundling...


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