Dahlman Rose Raises Price Target on United Continental (UAL) Following New Outlook
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Price: $52.67 --0%
Rating Summary:
20 Buy, 12 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 10 | Down: 8 | New: 5
Rating Summary:
20 Buy, 12 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 10 | Down: 8 | New: 5
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Dahlman Rose is reaffirming its Buy rating on shares of United Continental (NYSE: UAL) and is raising its price target from $24 to $27.
The company updated its Q3 guidance with capacity now expected to be down 0.8 percent, with domestic down 1.9 percent and international down 0.6 percent. UAL also reported that it now forecasts that passenger unit revenue will increase 9.5-10.5 percent while non-fuel expenses are estimated to rise 1.7-2.7 percent. Jet fuel is now expected to $3.15 per gallon, down from its previous $3.18 per gallon estimate.
Mainline domestic forward booking indicates a load factor of 1.2 points higher than last year while international booking looks to decline by 3.5 points. The firm notes that this raises concerns, but states that it is not a complete surprise given the static growth in the pacific.
Dahlman Rose raised its Q3 EPS estimate from $1.90 to $2.46 and its 2012 EPS estimate from $4.00 to $4.50.
For more ratings news on United Continental click here and for the rating history of United Continental click here.
Shares of United Continental closed at $20.77 yesterday.
The company updated its Q3 guidance with capacity now expected to be down 0.8 percent, with domestic down 1.9 percent and international down 0.6 percent. UAL also reported that it now forecasts that passenger unit revenue will increase 9.5-10.5 percent while non-fuel expenses are estimated to rise 1.7-2.7 percent. Jet fuel is now expected to $3.15 per gallon, down from its previous $3.18 per gallon estimate.
Mainline domestic forward booking indicates a load factor of 1.2 points higher than last year while international booking looks to decline by 3.5 points. The firm notes that this raises concerns, but states that it is not a complete surprise given the static growth in the pacific.
Dahlman Rose raised its Q3 EPS estimate from $1.90 to $2.46 and its 2012 EPS estimate from $4.00 to $4.50.
For more ratings news on United Continental click here and for the rating history of United Continental click here.
Shares of United Continental closed at $20.77 yesterday.
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