Список проголосовавших за комментарий " <table class="BriefingDataTable" border="0" cellspacing="0" cellpadding="0"><tr> <td class="tickerColumn"> </td> <td class="articleColumn">Pressure on shares from capacity creep a buying oppty in AAL — Stifel (27.45)Stifel notes that after United's (<strong>UAL</strong>) decision to add 2pts to its domestic capacity guidance, they view the risk that American (<strong>AAL</strong>), Delta (<strong>DAL</strong>), or Southwest (<strong>LUV</strong>) follows as higher which could lead to shares underperforming through 1Q EPS. They are buyers now of American and would be more aggressive if shares came under pressure as a result of incremental capacity additions. Should firm see additional capacity added during 1Q EPS season, they suspect there is downside of ~10%. They would note that at a stock price of $35, the market would be pricing in $3.50 in EPS in 2018 (assuming a 10x multiple) which equates to ~$2.5B in pre-tax income. They estimate, conservatively, the loyalty program will generate ~$2.7B in pre-tax income in 2018 — an earnings stream immune from incremental capacity or weaker pricing. The risk/reward at current stock prices is incredibly compelling on AAL.</td> </tr></table>"