Deutsche Bank downgrades three major U.S. airlines to Hold Deutsche Bank this morning cuts it ratings on the three major U.S. airlines to Hold from Buy on concerns international sales will disappoint over the next few quarters. Analysts at Deutsche expect the combination of a strong U.S. dollar, capacity increases by non-US airlines and decelerating global GDP growth to pressure the foreign sales in 2015. To reflect its thesis, Deutsche downgraded shares of American Airlines (AAL), Delta Air Lines (DAL) and United Continental (UAL) to Hold from Buy. It cut its price target for American to $58 from $78, for Delta to $50 from $60 and for United to $70 from $85. Deutsche notes the downgrades reflects its 12-month view and that it remains positive on the stocks longer term.
United Continental downgraded to Hold from Buy at Deutsche Bank Deutsche Bank downgraded United Continental to Hold saying the international sales will likely disappoint over the next few quarters. The firm cut its price target for shares to $70 from $85.