U.S. Airways (NYSE:LCC): Bank of America/Merrill Lynch has brought its rating on U.S. Airways from Neutral to Underperform, based on lower estimates for AMR results, high Street expectations, and likely further softness in bookings. Its price target is now $16, down from $17.
Aircastle (NYSE:AYR): Valuation concerns, an older relative fleet, lease renewals, and a weak freight environment expected in the spring were all factors that led Bank of America/Merrill Lynch to downgrade Aircastle, from Neutral to Underperform. The price target is set at $14.75.
Trina Solar (NYSE:TSL): Goldman Sachs has downgraded Trina Solar given its high exposure to the EU market, and the potential earnings risk from a near-term tariff settlement that could result from the EU/China tariff dispute. It now rates the shares at Sell, down from Neutral, and has a price target of $4, down from $4.50.
Chevron Corp. (NYSE:CVX): Barclays has downgraded Chevron due to relative valuation concerns and capex, and lowered its price target from $145 to $133. It now rates the shares at Equal Weight, down from Overweight.
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