Morgan Stanley Downgrades United Continental (UAL) to Equalweight

Morgan Stanley downgraded United Continental (NYSE: UAL) from Overweight to Equalweight with a price target of $73.00 (from $72.00).

Morgan Stanley analyst Rajeev Lalwani said "Previously announced initiatives amplify cyclical leverage via industry-low margins and elevated debt is set to remain. In addition, 2017 P/E valuation of ~13x implies a large portion of the margin opportunity is already priced in and we maintain a healthy measure of skepticism regarding execution, thus we are downgrading UAL from OW to EW"

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 $73.02 yesterday.

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