Market Overview

Cowen Calls Decline in Airline Stocks Following Report of DoJ Suit Against US Air/AMR 'Overdone'


Cowen's Helane Becker issued an intraday research note on US Airways (NYSE: LCC), AMR Tuesday afternoon following a report the DoJ is planning to a suit to block a merger between the two.

Becker believes a US Air, American deal will "eventually" get done, but noted the combined entity would likely be required to give up slots a higher-profile airports like Reagan National.

Becker called the sector-wide sell off in the Airline group "overdone." She believes investors should concentrate on United Continental (NYSE: UAL) and Delta (NYSE: DAL).

The Cowen analyst maintains Outperform ratings on shares of Delta, United Continental, US Air, Spirit Air (NASDAQ: SAVE), Southwest (NYSE: LUV) and Alaska Air (NYSE: ALK).

Latest Ratings for LCC

Nov 2013Imperial CapitalMaintainsOutperform
Nov 2013Imperial CapitalMaintainsOutperform
Oct 2013Deutsche BankUpgradesHoldBuy

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