Merrill Lynch Downgrades Iberia, Ryanair To 'Neutral'

Investment bank Merrill Lynch downgraded Iberia and Ryanair from "buy" to "neutral" due to "concerns for short-haul pricing trends" in Europe, sending the companies' shares down some 3% at market opening yesterday. "We believe the marketplace for airline seats [in Europe] faces overcapacity, and the...

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