American Airlines stock price target cut to $52 from $60 at CFRA

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Dow transports falls as airline stocks weigh, defying broader market gains

The Dow Jones Transportation Average is slumping 25 points, or 0.2%, to defy the sharp gains in the broader market indexes, as a selloff in air carrier stocks weighs on the transport sector. The Dow transports (DJTA) is headed for a third-straight loss, while the Dow Jones Industrial Average climbs 191 points. Meanwhile, the S&P 500 was up 0.4%, and was headed for a third-straight gain. The last time the DJTA fell three-straight days while the S&P 500 rose in each of those days was the three-day period ending Nov. 6, 2017. Back then, the S&P 500 pulled back by about 1% over the next seven sessions before resuming its uptrend. On Wednesday, the DJTA’s biggest loser was Delta Air Lines Inc.’s stock, which shed 2.2% after the company lowered its profit outlook. The next biggest decliner was American Airlines Group Inc. shares , which shed 1.6%. Among other air carriers, shares of JetBlue Airways Corp. lost 0.9% and Southwest Airlines Co. gave up 0.8%.

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