Imperial Capital Raises Price Target on United Airlines (UAL) to $63
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Imperial Capital reiterated an Outperform rating on United Continental (NYSE: UAL), and raised the price target to $63.00 (from $57.00). The increased price target reflects higher earnings and greater conviction in UAL's ability to narrow the margin gap between itself and its peers.
Analyst Michael Derchin commented, "We are maintaining our Outperform rating, increasing our estimates and our one-year price target on UAL shares to $63 from $57. Our price target is about 16% above the recent share price. We are raising our 3Q16 EPS estimate to $3.08 from $2.91, our FY16 estimate to $8.27 from $8.03, and our FY17 estimate to $7.00 from $6.75 after UAL issued 3Q16 guidance on 10/11/16."
Shares of United Continental closed at $54.20 yesterday.
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