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Deutsche Bank Downgrades A Slew Of Airliners

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AAL, Delta Air Lines Inc. New NYSE:DAL - Deutsche Bank Downgrades A Slew Of Airliners

Deutsche Bank has downgraded American Airlines Group Inc AAL 0.36%, Delta Air Lines, Inc. DAL 1.07%, United Continental Holdings Inc UAL 0.15% and Hawaiian Holdings, Inc. HA 1.88% to Hold from Buy saying "several of our key macro indicators are suggesting a more challenging environment for 2016."

The brokerage also cut the price targets of American Airlines to $46 from $55, Delta to $55 from $68, JetBlue Airways Corporation JBLU 0.36% to $32 from $32 and United to $62 from $75.

"More specifically, we have observed a slowdown in US corporate profits which is a concern given that they are a leading indicator of economic activity, and therefore, could lead to reduced demand for corporate travel," analyst Michael Linenberg wrote in a note to clients.

However, he said consumer spending and housing have fared better, and should bolster demand for discretionary and leisure travel, at least through the summer.

A Few Favorites: Domestics Not Heavily Reliant On Corporate Travel

As such, the...