Imperial Capital Raises Price Target on United Airlines (UAL) to $65 Following 3Q Report
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Imperial Capital reiterated an Outperform rating on United Continental (NYSE: UAL), and raised the price target to $65.00 (from $63.00), following the company's 3Q earnings report. Imperial has cut 4Q EPS estimates to $1.10 from $1.40, as well as 2016 estimates to $8.00 from $8.27. The estimates have been cut based on the impact of newly ratified contracts with all key labor groups, and higher jet fuel prices.
Analyst Michael Derchin commented, "We have greater conviction that UAL can narrow the margin gap with its peers following UAL’s 3Q16 earnings call on 10/17/16 in which new members of senior management highlighted areas of focus. The cornerstone of margin improvement is on-time performance and operational reliability as well as customer service, which is now underway with merger integration behind the company. New commercial opportunities exist in pricing, inventory management, network planning, product segmentation, and new product offerings."
Shares of United Continental closed at $53.03 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change
Related EntitiesEarnings, Definitive Agreement, Imperial Capital
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