Airline Sector Climbing Higher
The Amex Airline index has gone up by 3.5% to $29.50.
"Now that ... previously exuberant expectations have normalized as evidenced by price action in the last [one to two] months [versus] improving trends and ... the risk of a liquidity squeeze at a major carrier in 2010 has fallen; we believe investors will become increasingly willing to bet on the cycle," wrote Morgan Stanley analyst William J. Greene in a note to investors cited by the Wall Street Journal.
Greene has boosted his outlook for the sector to attractive from in-line.On top of that, he also lifted his ratings on AMR (AMR) and UAL (UAUA) to overweight from equalweight and lowered his ratings on Alaska Air (ALK) to underweight from equalweight.
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