Fly News Breaks for March 5, 2020
LUV, UAL, DAL, AAL
Mar 5, 2020 | 09:33 EDT
Airline stocks right now are caught between a spreading virus of unknown duration and the potential of an economic slowdown of unknown proportions, making a short-term trading call very difficult to predict, Bernstein analyst David Vernon tells investors in a research note. At the same time, airline stocks are trading well below what the value might be in a more normalized environment, adds the analyst. After performing stress tests for earnings, Vernon sees bankruptcy risk as low for the group. However, he expects 2020 earnings estimates to be cut significantly. Vernon lowered the firm's price target on Outperform-rated American Airlines (AAL) to $27 from $40, Delta Air Lines (DAL) to $64 from $73, and United Airlines (UAL) to $77 from $109, as well as Market Perform-rated Southwest (LUV) to $55 from $61.
News For AAL;DAL;UAL;LUV From the Last 2 Days
There are no results for your query AAL;DAL;UAL;LUV