Deutsche Bank gloomy on airline sector

|About: American Airlines Group Inc. (AAL)|By:, SA News Editor

Deutsche Bank lowers American Airlines (NASDAQ:AAL) and Delta Air Lines (NYSE:DAL) to Hold ratings from Buy on broad concerns over the global macroeconomic environment.

"The stream of global macro data points have been less encouraging of late suggesting to us that the industry risks are now more biased to the downside," warns Deutsche Bank analyst Michael Linenberg.

DB lowers price target on other airline stocks, including Allegiant Travel (NASDAQ:ALGT) to $160 from $169, Alaska Air (NYSE:ALK) to $73 from $75, JetBue (NASDAQ:JBLU) to $20 from $22, Mesa Air (NASDAQ:MESA) to $17 from $18, Spirit Airlines (NASDAQ:SAVE) to $75 from $79, SkyWest (NASDAQ:SKYW) to $68 from $75 and United Continental (NASDAQ:UAL) to $105 from $109.

Related ETF: JETS.

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