Sentiment veered south for airlines Wednesday as analysts seemed to agree post-Brexit traffic concerns, failure to improve per-seat revenues and significant jet fuel cost headwinds will likely keep stocks in the sector from taking off.
Credit Suisse Weighs In
Below is a sampling of airline action from Credit Suisse:
- American Airlines Group Inc AAL: Downgraded to Underperform from Outperform
- United Continental Holdings Inc UAL: Downgraded to Neutral
- Delta Air Lines, Inc. DAL: Rating maintained, price target raised from $48 to $51
Deutsche Bank appears to have disagreed with Credit Suisse’s view of Delta, as it cut its price target on Delta’s shares from $56 to $42.
Deutsche's Take
Some other airline price target cuts at Deutsche:
- Alaska Air Group, Inc. ALK: $88 to $86
- JetBlue Airways Corporation JBLU: $31 to $29
- United: $62 to $50
- American Airlines: $41 to $36
- Virgin America Inc VA: $57 to $55
Spirit Airlines Incorporated SAVE and Southwest Airlines Co LUV both also saw their targets slip one dollar lower in Deutsche’s view.
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