Sterne Agee Maintains Hold after AMR's Bankruptcy Filing

Sterne Agee has published a research report on AMR Corporation (NYSE: AMR) after the company filed for Chapter 11 bankruptcy.

In the report, Sterne Agee writes, "Although we believe company had the liquidity to make it through 2012 before having its hand forced, the timing of strategic filing makes sense given recent increase in fuel prices, a more recent defection of business travel customers to competitors, delays in discussions with labor groups, and the seasonal timing of higher cash burn over the winter months."

Sterne Agee maintains its Neutral rating on AMR, which is currently trading down $1.37 from yesterday's $1.62 closing price.