Credit Suisse analyst Jose Caiado downgraded Spirit Airlines to Neutral from Outperform. In a research note to investors, Caiado says Spirit's revised 2019 guidance points to year-over-year margin compression and earnings declines in the second half of 2019, in start contract with other Airline stocks, which makes it increasingly difficult to justify a premium multiple for Spirit. While there is upside to the revised $51 price target, Caiado says he is stepping to the sidelines with a view that the stock will be "dead money" until the tough second half revenue comps are lapped and a better 2020 setup comes into view.