From Ticker Sense
Yesterday morning UBS downgraded all of the airline stocks based on increased fuel prices. Yes oil prices can be and have been volatile, but we looked back over this current bull market, that has seen oil go to $80/barrel, and the Dow Jones Transports Index has outperformed the Industrial Average by a whopping 70%. Increased oil prices did cause a scare in July of last year, but the index has come back to make new highs since then. The downgrade by UBS could be premature.
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