Sanford C. Bernstein upgrades ICAGY to "outperform" after it beat earnings and revenue forecasts.

Sanford C. Bernstein upgraded International Consolidated Airlines Group (ICAGY) to an outperform rating, noting the company's recent success. ICAGY reported earnings of $0.05 per share, surpassing analyst estimates of a $0.01 loss, and revenue of $7.41 billion, exceeding forecasts of $6.85 billion. The company has a market cap of $21.70 billion and a price-to-earnings ratio of 3.26. Despite the upgrade, ICAGY still has a consensus recommendation of "Hold" from seven brokerage firms.