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Fly News Breaks for June 8, 2015
DAL
Jun 8, 2015 | 07:28 EDT
As previously reported, Raymond James downgraded Delta Air Lines (DAL) to Outperform from Strong Buy. The firm now expects the pricing recovery heading into the seasonally stronger summer months to be more muted, given softer than expected U.S. economic growth, weaker than expected international demand and American Airlines' (AAL) aggressive pricing in response to Southwest's (LUV) capacity growth. As a result, Raymond James lowered Delta's earnings estimates and reduced its price target to $53 from $60 on shares.
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