Barclays analyst Andrew Lobbenberg double downgraded IAG (ICAGY) to Underweight from Overweight with a price target of 250 GBp, down from 420 GBp. U.S. airlines say recent profit warnings are domestic only, but this will spread as “macro tensions also threaten demand,” the analyst tells investors in a research note. The firm says European airlines are highly reliant on North Atlantic profitability.
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