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Fly News Breaks for July 6, 2016
UAL
Jul 6, 2016 | 06:43 EDT
Credit Suisse analyst Jule Yates downgraded United Continental to Neutral given challenging revenue growth heading into Q3. The analyst said unit revenue growth requires capacity discipline or macro reacceleration, which will be difficult given high 2017 consensus estimates, weak corporate demand trends, further risk of foreign exchange headwinds, expensive labor deals, and peaking free cash flow and shareholder returns. Yates lowered United's price target to $42 from $64 on shares.
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