UBS Cutting Estimates and PT on United Continental (UAL) After Mgmt Guided July Passenger RASM to Flat
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Price: $34.36 +3.37%
Rating Summary:
9 Buy, 7 Hold, 2 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 21 | Down: 24 | New: 29
Rating Summary:
9 Buy, 7 Hold, 2 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 21 | Down: 24 | New: 29
Trade UAL Now!
UBS maintains a 'Buy' on United Continental (NYSE: UAL) price target of $29.00 (from $36.00).
Analyst, Kevin Crissey, said, "United reported Q2 EPS of $1.41 vs. consensus $1.65 and our $1.53. We don’t think all analysts updated for managements’ prior guidance of lower Q2 unit revenue (RASM) so consensus was a bit overstated. However, UAL’s result was weak regardless."
"UAL has recently sold off sharply – and for good reasons (fuel price increase, weak economic data, Q2 miss, and weak guidance). We’d like to suggest it bounces back but we don’t see the near-term catalyst for this (ex a fuel price drop). We believe airline stocks trade in the direction of forward earnings revisions. We don’t expect any important new information from UAL until perhaps early Sept, when they report August RASM. We therefore don’t see a quick recovery here." (FY12 EPS Estimate slashed from $3.88 to $2.60 and FY13 from $5.41 to $4.55)
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 $19.20 yesterday, with a 52 week range of $15.51-$25.84.
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Analyst, Kevin Crissey, said, "United reported Q2 EPS of $1.41 vs. consensus $1.65 and our $1.53. We don’t think all analysts updated for managements’ prior guidance of lower Q2 unit revenue (RASM) so consensus was a bit overstated. However, UAL’s result was weak regardless."
"UAL has recently sold off sharply – and for good reasons (fuel price increase, weak economic data, Q2 miss, and weak guidance). We’d like to suggest it bounces back but we don’t see the near-term catalyst for this (ex a fuel price drop). We believe airline stocks trade in the direction of forward earnings revisions. We don’t expect any important new information from UAL until perhaps early Sept, when they report August RASM. We therefore don’t see a quick recovery here." (FY12 EPS Estimate slashed from $3.88 to $2.60 and FY13 from $5.41 to $4.55)
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 $19.20 yesterday, with a 52 week range of $15.51-$25.84.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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