Jefferies has highlighted Mahindra & Mahindra, Eicher Motors and TVS Motor as their preferred "buy" recommendations, even as it has a "buy" rating on both Bajaj Auto and Hero Moto.

Sheila Kahyaoglu, Jefferies aerospace and defense analyst, joins CNBC's The Exchange to discuss why her firm increased the price target on American Airlines to $20 from $12, her take on other airlines,

Key Takeaways Shares of American Airlines surged Monday after brokerage firms Jefferies and TD Cowen upgraded their ratings to "buy" and raised their price targets on the carrier's stock.Jefferies said the stock "could see significant surprise to the upside in 2025.