United Continental (UAL) Investor Event Offers Optimistic View of Business Travel Recovery - Citi

Citi analyst Stephen Trent reiterated a Buy rating and $67.00 price target on United Continental (NASDAQ: UAL) after attending the United Airlines’ investor event at the NASDAQ in New York. United Airlines placed an order for 200 Boeing 737MAX aircraft, consisting of 150 737-10s and 50 737-8s, in addition to an order for 70 Airbus A321NEOs.

The analyst stated "United offered very helpful color on its sizable jet order, with management explaining the seat mile cost benefits of shifting to larger planes, while the carrier’s optimism on an eventual business travel recovery also supports a higher weighting of premium seating. Although higher capex through 2023E associated with the jet order could give some investors pause, the operational improvements appear to more than offset this headwind."

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 $52.15 yesterday.

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