Jefferies Starts Wheels Up Experience inc. (UP) at Buy

July 27, 2021 7:40 AM EDT
Get Alerts UP Hot Sheet
Price: $7.09 -1.12%

Rating Summary:
    3 Buy, 2 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 17 | Down: 5 | New: 36
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Jefferies analyst Sheila Kahyaoglu initiates coverage on Wheels Up Experience inc. (NYSE: UP) with a Buy rating and a price target of $13.00.

The analyst commented, "Wheels Up is a hi tech lifestyle co redefining and expanding the market for luxury travel. Our Buy rating is based on UP's rev and margin opportunity. TAM expansion from $31BB today to $80BB in 2025 on lower barriers to private flight should drive DD sales growth. The asset light model offers scale opportunities to drive 12-pts of adj. EBITDA by 2023E. Our adj. EBITDA of $59MM drives our $13 PT based on Aerospace and Technology peer avg 24X EV/EBITDA."

For an analyst ratings summary and ratings history on Wheels Up Experience inc. click here. For more ratings news on Wheels Up Experience inc. click here.

Shares of Wheels Up Experience inc. closed at $8.05 yesterday.



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