American Airlines shares rise 2.76% as oil falls below $100 amid Iran talks

  • American Airlines shares advanced as crude prices declined and diplomatic efforts involving Iran emerged.
  • American Airlines rose 2.76% to $13.21, while oil traded below $100 a barrel.
  • Barclays cut its forecast to $14 and UBS lowered its target to $17.

American Airlines Group Inc. shares rose 2.76% to $13.21 on Friday as crude oil fell below $100 a barrel and broader markets advanced. Iranian state media reported planned talks with Gulf states in Oman, while diplomats from the six-member Gulf Cooperation Council are scheduled to meet Iran’s counterpart on Monday to discuss a temporary arrangement for shipping through the Strait of Hormuz. Lower oil prices generally reduce jet-fuel expenses for airlines. Barclays kept an Equal-Weight rating on American Airlines but cut its price forecast to $14, while UBS retained a Buy rating and lowered its forecast to $17. FAA (U.S. aviation regulator) Administrator Bryan Bedford also met airline CEOs over the agency’s SMART software rollout for flight scheduling and management. Technically, the stock remains below its 20-, 50-, 100- and 200-day simple moving averages, although its 50-day average remains above the 200-day average after a June Golden Cross.

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