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The Ratings Game: The Big 3 airlines to suffer from growing trade dispute, analyst says

Shares of the Big 3 airlines fell Tuesday after Deutsche Bank downgraded them, citing concerns over heightened geopolitical risks, highlighted by the growing trade dispute.

Delta Air Lines Inc.’s stock DAL, -2.28% shed 2.3%, American Airlines Group Inc. shares AAL, -1.59% dropped 1.6% and United Continental Holding Inc. shares UAL, -1.07% gave up 1.1%. Analyst Michael Linenberg cut his ratings on all three air carriers to hold from buy, and slashed his stock price target on Delta to $53 from $54, on American to $43 from $60 and on United to $74 from $81.

“The possibility that the current trade dispute between the U.S.

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