Banc of America/Merrill Lynch Downgraded a Number of Airlines (CAL, LCC, LUV, more)

January 9, 2009 9:05 AM EST

Banc of America/Merrill Lynch downgraded a number of airlines today:

Downgraded from Buy to Neutral:
Continental (NYSE: CAL) target lifted from $22 to $24
JetBlue (Nasdaq: JBLU) target lifted from $6.50 to $8
UAL (Nasdaq: UAUA) target cut from $17 to $14

Downgraded from Buy to Underperform
AirTran (NYSE: AAI) $4 price target
Southwest (NYSE: LUV) target lowered from $14 to $9
US Airways (NYSE: LCC) $9 target

Reiterated Buy:
Alaska Air Group Inc. (NYSE: ALK) $40 tgt
AMR Corporation (NYSE: AMR) $15 tgt
Delta Airlines (NYSE: DAL) $16 tgt


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Downgrades

Stocks Mentioned

AAI 4.53

-0.14 -3.00%
Volume: 2,666,520
Track AAI

ALK 28.52

+0.33 +1.17%
Volume: 593,228
Track ALK

AMR 5.59

-0.19 -3.29%
Volume: 16,531,684
Track AMR

CAL 12.85

-0.22 -1.68%
Volume: 6,687,419
Track CAL

DAL 7.73

-0.16 -2.03%
Volume: 6,528,546
Track DAL

JBLU 5.16

-0.04 -0.77%
Volume: 4,968,685
Track JBLU

LCC 3.06

-0.14 -4.38%
Volume: 6,740,338
Track LCC

LUV 8.95

-0.11 -1.21%
Volume: 6,552,848
Track LUV

UAUA 6.70

-0.30 -4.29%
Volume: 8,623,738
Track UAUA


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