Shares of American Airlines (AAL) - Get American Airlines Group, Inc. Report were climbing over 1.4% in afternoon trading on Thursday after its CEO Doug Parker delivered bullish commentary on the airline's future at an investor event.
The CEO of the Fort Worth-based carrier emphatically stated that he doesn't foresee the company ever losing money again, while contending that its stock price will hit $60 per share by November 2018.
But, his commentary comes just as the airline lowered its revenue outlook for the third quarter due to the destruction caused by several major hurricanes.
"We think our equity is well discounted versus our view of future earnings," Parker stated. "I personally believe that in a couple of years we will look back at the fact that the market allowed us to repurchase billions of dollars of AAL at below $40 over a three-year period as one of the all-time great airline equity buying opportunities."
Shares of American Airlines were trading at around $47 per share on Thursday. The stock has risen just above 1% year-to-date.
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