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Alaska Air Stock Down After Credit Suisse Downgrades Shares

Alaska Air's stock fell after Credit Suisse downgraded shares of the airline company and lowered its 2007 profit outlook.

Credit Suisse, which cut the stock to neutral from outperform, said that Delta's encroachment in Alaska's nonhub markets adds revenue risk not previously factored into the brokerage's outlook.

Credit Suisse also lowered its price target on the stock to $49 from $58.