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 4.46

+0.34 +8.25%
Volume: 11,009,749
Track AAI

ALK 30.90

+1.00 +3.34%
Volume: 562,389
Track ALK

AMR 6.29

+0.25 +4.14%
Volume: 17,115,182
Track AMR

CAL 14.96

+0.70 +4.91%
Volume: 7,156,291
Track CAL

DAL 8.62

+0.43 +5.25%
Volume: 12,252,363
Track DAL

JBLU 5.64

+0.13 +2.36%
Volume: 14,971,269
Track JBLU

LCC 3.69

+0.00 +0.00%
Volume: 11,489,238
Track LCC

LUV 9.35

+0.15 +1.63%
Volume: 11,216,133
Track LUV

UAUA 8.26

+0.50 +6.44%
Volume: 19,711,608
Track UAUA


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