Airlines price targets - non-MAX operators BULL

Jul 17, 2019

** Credit Suisse says non-MAX operators such as Delta Air Lines, Spirit Airlines, JetBlue Airways and Alaska Air Group to benefit most from reduced supply levels in the form of higher load factors and fares

** LUV and AAL combined have the highest exposure to MAX fleet in U.S.

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Price targets / analysts:

• CS downgrades American Airlines Group Inc to "underperform" form "neutral", cuts PT to $30 from $32, citing extended grounding's of MAX jets and ongoing mechanics labor dispute
  
  
• Cuts PT for Southwest Airlines Co to $51 from $53, while also lowering 2019 EPS estimate to $4.07 from $4.45 due to the airline's inability to capitalize on market demand
  
  
• Upgrades JBLU to "neutral" from "underperform", raises PT to $19 from $16 due to strong seasonal leisure demand and continued execution of cost and revenue initiatives
  
  
• Raises PT for United Airlines Holdings Inc to $113 from $111 despite its smaller MAX exposure compared to LUV and AAL