JP Morgan sees improving fundamentals in Airlines space, shuffles ratings
JP Morgan believes fundamentals in the Airlines sector are improving, and demand, although weak, was better than feared in July and August. The firm upgraded UAL Corp (UAUA) to Overweight from Underweight, believing sentiment on shares will improve as the company begins to raise capital. JP Morgan also upped its rating on US Airways (LCC), to Neutral from Underweight. In conjunction with these upgrades, the firm downgraded Airtran Holdings (AAI) and JetBlue (JBLU). In addition, JP Morgan upgraded its rating on Airline sector credit to Overweight from Neutral, reflecting the firm's improved outlook on the space. :thef
