American Airlines (AAL) - Get Report was downgraded from overweight to equal weight, said Morgan Stanley. American is among the most leveraged, cyclical names in the group and has weak margins and a high debt profile. It is also facing pricing pressure from rising capacity in key U.S. domestic and Latin American markets and there is little room for valuation expansion. The stock has a price target of $44.
L Brands (LB) - Get Report was downgraded to underweight, KeyBanc said. It has high C-mail exposure and emerging headwinds in both its Victoria's Secret and Bed and Body Works brands. The stock has a $40 price target.
Urban Outfitters (URBN) - Get Report was upgraded to overweight, KeyBanc said. The company focuses on non-mail locations and has a highly differentiated product offering, and it has made significant investments to capture e-commerce share. The stock has a $28 price target.