Imperial Capital Downgrades United Continental (UAL) to In-Line on Valuation
- Top 10 News for 12/2: Crude Rips on OPEC Cut; Starbucks' Schultz Steps Down; Nonfarm Payrolls Flat in Nov.
- Unemployment Rate Drops to 4.6%
- Bond yields slip on U.S. jobs data, euro steady before Italy vote
- Alibaba (BABA) Founder Jack Ma Discuss Plans to Retire; 'I Don't Want to Die at the Office'
- Starbucks Coffee (SBUX) CEO Howard Schultz to Step Down, Appointed Executive Chairman; Kevin Johnson New CEO
Get instant alerts when news breaks on your stocks. Claim your 2-week free trial to StreetInsider Premium here.
Imperial Capital downgraded United Continental (NYSE: UAL) from Outperform to In-Line with a price target of $76.00 (from $65.00), saying the stock appears fully valued.
Analyst Michael Derchin commented, "We are downgrading our rating to In-Line from Outperform as the stock appears fairly valued after recent sizeable run-up. We are increasing our one-year price target to $76 from $65, using 2018 estimates versus 2017 previously. Our price target is about 10% above the recent share price. We are lowering our FY17 EPS estimate to $6.25 from $6.50 and our FY18 EPS estimate to $8.00 from $8.24 on FY17 CASM ex-fuel increasing 4.0% versus 3.5% previously, incorporating recently ratified labor agreements."
Shares of United Continental closed at $68.99 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Pivotal Research Downgrades Kroger (KR) to Hold
- Brean Capital Cuts Price Target on G-III Apparel Group (GIII) Following 3Q Miss
- Jefferies Cuts Price Target on Kroger (KR) to $30 Following 3Q and Guidance
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst PT Change, Downgrades
Related EntitiesImperial Capital
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!