Wall Street Analysts Ground Airline Stocks

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.

Related Link: United Airlines' Bull Case Deteriorates, Leading To A Credit Suisse Downgrade

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.