Imperial Capital Downgrades United Continental (UAL) to In-Line on Valuation

November 22, 2016 6:38 AM EST
Get Alerts UAL Hot Sheet
Price: $69.76 +2.20%

Rating Summary:
    20 Buy, 7 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 16 | Down: 26 | New: 28
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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."

For an analyst ratings summary and ratings history on United Continental click here. For more ratings news on United Continental click here.

Shares of United Continental closed at $68.99 yesterday.



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