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Dayton Business Journal...
United and US Airways
downgraded
By Chris Bagley
Monday, October 3, 2011
Shares of United Continental Holdings Inc. and US Airways Group were
trading lower Monday after an equity analyst downgraded the two stocks.
Citi analyst Will Randow reduced his rating on US Airways (NYSE:LCC) to
“sell” from “hold.” He also cut his rating on United Continental
(NYSE:UAL) to “hold” from “buy.” Both airlines serve the Dayton
International Airport.
In explaining his two rating cuts, Randow notes airline revenue
probably shrank in late September and also pointed to Citi economists’
reduced estimate for global economic growth next year: 2.9 percent
compared with a previous estimate of 3.2 percent, Marketwatch reported.
The two airlines provided a mixed bag of results at the Dayton
International in July, the last month air traffic figures were
available. United Airlines, a unit of United Continental Holdings,
posted a 10.9 percent increase while US Airways was down 5 percent.
Read it at the Dayton Business Journal
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