Keep an eye on beaten-down airline stocks.
Even with demand taking off, some of the biggest names have fallen out of the sky.
But we believe it’s just temporary.
For one, global airlines just raised their profit forecasts to $30.5. billion for 2024. Two, airlines all over the world expect to see about five billion passengers, as noted by the International Air Transport Association. That’s just over 11% higher than year-earlier numbers.
And travel demand is only getting stronger.
According to TripAdvisor, “Americans and travelers around the world continue to place a high priority on summer vacations, according to the annual Summer Travel Index released today by Tripadvisor, the world’s largest travel guidance platform. In fact, 95 percent of respondents are planning to travel as much (51%) or more (44%) than last summer, despite some concern about economic headwinds.”
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With that, keep an eye on down, but not out airline stocks such as: Company: American Airlines (SYM: AAL) American Airlines just gapped lower after cutting its profit and revenue guidance. However, it does appear that most of the negativity has been priced into the now-oversold stock. |
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Company: JetBlue Airways (SYM: JBLU) Weakness in JetBlue Airways is also an opportunity. After pulling back, JBLU is another bargain basement stock to consider. Oversold, we don’t think the JBLU stock will stay grounded for long. |
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Company: Southwest Airlines (SYM: LUV) Southwest Airlines (SYM: LUV) is another one to consider. After dropping from about $34 to $25, it’s just starting to pivot higher. From its last traded price of $28.47, we’d like to see it initially refill its bearish gap at around $29. |
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