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CAL/DAL upgraded, HA/LUV downgraded

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jonjuan

Honey Ryder
Joined
Feb 26, 2004
Posts
4,155
http://www.marketwatch.com/story/morgan-stanley-upgrades-continental-airlines?siteid=yhoof2

Morgan Stanley upgrades Continental Airlines

LONDON (MarketWatch) -- Morgan Stanley upgraded Continental Airlines (CAL 9.62, +0.40, +4.34%) to overweight from equal-weight, saying recent weakness in the shares has made relative valuation more favorable and created an attractive entry point. "Moreover, Continental's status as a likely survivor makes valuation particularly attractive for investors willing to look through the cycle," the broker said. Morgan Stanley said it has lowered estimates on airlines because of higher oil prices and lower revenues, but said it's likely to be the last cut to 2009 earnings estimates and is therefore a reason to get incrementally more positive on the sector. The broker downgraded Hawaiian Holdings (HA 5.37, -0.68, -11.24%) to equal-weight from overweight and Southwest Airlines (LUV 6.43, -0.37, -5.44%) to underweight from equal-weight. It also initiated coverage of Delta Air Lines Inc. (DAL 5.93, +0.08, +1.37%) at overweight.
 
OK, so they initiated DAL coverage with the SAME rating, overweight. Jezuz H.
 
DAL has a decent debt to income ratio. (Comparatively speaking) The issue that DAL has is all of their debt that is maturing in the next year. DAL does have access to credit, but they want a sweetheart deal.
Long term DAL has a very good outlook. Our yields are stabilizing, which is a very good news.
 
DAL has a decent debt to income ratio. (Comparatively speaking) The issue that DAL has is all of their debt that is maturing in the next year. DAL does have access to credit, but they want a sweetheart deal.
Long term DAL has a very good outlook. Our yields are stabilizing, which is a very good news.


I know,...I know,...thanks to Northwest's cash on hand at time of merger, we made the numbers work to enable access to credit for DAL :)

Now lets get to phase 3 :)
 
Whatever you wish to call it.
We have access, and it is good. We will need to buy a lot of used jets;)
 
I know,...I know,...thanks to Northwest's cash on hand at time of merger, we made the numbers work to enable access to credit for DAL :)

Now lets get to phase 3 :)

Yes, and thanks to your lower salaries that enabled NWA to have all of that extra cash. But hey, let's now get on with phase 3. :)


Bye Bye--General Lee
 
I know,...I know,...thanks to Northwest's cash on hand at time of merger, we made the numbers work to enable access to credit for DAL :)

Now lets get to phase 3 :)

DAL and NWA had about the same cash position. NWA had more debt as a percentage of income than DAL, that's a minus, but NWA had more cash as a percentage of income, that's a plus. End result a merger of equals, ***cheap shot alert**although DAL did bring significantly more big aircraft. ;)
 
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