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Fly News Breaks for February 27, 2020
UAL, SAVE, LUV, JBLU, ALK, ALGT, AAL
Feb 27, 2020 | 08:18 EDT
Buckingham analyst Daniel McKenzie downgraded seven airline stocks to Neutral from Buy, citing demand impact from COVID-19 that likely proves far greater than investors appreciate based on the data he tracks. The analyst downgraded American Airlines (AAL), Allegiant (ALGT), Alaska Air (ALK), JetBlue (JBLU), Southwest (LUV), Spirit Airlines (SAVE) and United Airlines (UAL). McKenzie tells investors in a research note that his firm's booking study this past Monday captured the near-collapse of demand to Asia last week, but notes that his earnings and ratings outlook did not contemplate the collapse spreading to other regions which likely proves to be a flawed assumption based on CDC warnings. While he had expected the stocks to fall another 10%-15%, he is now concluding the pullback is likely going to be stronger for longer. If the collapse in demand to Asia is a sign of things to come in other geographic entities, the stocks are not even close to discounting the potential demand fallout from a broader spread of COVID-19, McKenzie says.
News For AAL;ALGT;ALK;JBLU;LUV;SAVE;UAL From the Last 2 Days
SAVE, JBLU
Mar 28, 2024 | 15:22 EDT
What has Wall Street been buzzing about this week? Here are the top 5 Bu-y calls and the top 5 Sell calls made by Wall Street’s best analysts during the week of March 25-28. Find all top-rated... To see the rest of the story go to thefly.com. See Story Here
SAVE
Mar 27, 2024 | 05:33 EDT
Barclays analyst Brandon Oglenski reinstated coverage of Spirit Airlines with an Underweight rating and $4 price target. Spirit faces significant operating and financial headwinds in the coming year that are likely to limit share upside, the analyst tells investors in a research note. The firm says that with mounting financial leverage and ongoing operating losses compounded by GTF engine related groundings, it sees limited equity potential in Spirit's shares.