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 29.83

+23.34 +359.63%
Volume: 443,953
Track AAI

ALK 26.31

+7.61 +40.70%
Volume: 446,390
Track ALK

AMR 25.06

+20.92 +505.31%
Volume: 431,999
Track AMR

CAL 26.28

+17.06 +185.03%
Volume: 443,112
Track CAL

DAL 27.57

+21.72 +371.28%
Volume: 445,225
Track DAL

JBLU 4.19

-0.17 -3.90%
Volume: 6,586,621
Track JBLU

LCC 2.46

+0.05 +2.07%
Volume: 3,808,116
Track LCC

LUV 6.50

-0.30 -4.41%
Volume: 11,102,344
Track LUV

UAUA 3.31

+0.02 +0.61%
Volume: 5,053,672
Track UAUA


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