UPDATE: Morgan Stanley Starts Wheels Up Experience inc. (UP) at Underweight

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(Updated - November 9, 2021 6:48 AM EST)

Morgan Stanley analyst Brian Nowak initiates coverage on Wheels Up Experience inc. (NYSE: UP) with an Underweight rating and a price target of $5.90.

The analyst comments "We see ~25% downside ($5.90 PT) as our deep dive into high income households and travel spend per household speaks to a relatively small TAM/runway (only top 1%+ of US households making at least $2.7mn+/year). This limits upside to our below Street estimates; we see negative revisions driving underperformance."

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 $7.80 yesterday.

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