UPDATE - Barclays Downgrades United Continental (UAL) to Equalweight; RASM Out-Performance Becoming More Difficult

UPDATE - Barclays downgrades United Continental (NYSE: UAL) from Overweight to Equalweight. PT lowered from $30 to $27.

Analyst, David E. Fintzen, said, "United/Continental merger integration is now potentially entering a period where relative RASM out-performance is far more difficult. Challenges are not just about specific IT systems, but the hard work needed to realize full revenue benefits."

"We have full confidence UAL will get back to industry leading RASM performance and see +20% upside potential in shares given our positive view on airlines, but we see a better relative risk-reward elsewhere within airlines."

Barclays cuts United/Continental's FY12 EPS estimate from $4.21 to $3.65 and FY13 from $6.65 to $6.00.

To see more ratings changes on UAL, Click Here

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