UPDATE: Morgan Stanley Upgrades United Continental (UAL) to Equalweight

April 6, 2021 7:56 AM EDT
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Price: $55.12 -0.09%

Rating Summary:
    15 Buy, 14 Hold, 3 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 14 | Down: 9 | New: 25
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(Updated - April 6, 2021 7:58 AM EDT)

Morgan Stanley analyst Ravi Shanker upgraded United Continental (NASDAQ: UAL) from Underweight to Equalweight with a price target of $65.00 (from $37.00).

The analyst comments "We like UAL's confidence in providing a 2023 cost guide which includes a goal to permanently reduce $2 bn of cost and at least match 2019 margins. The market is also very keen to see UAL's go-to-market strategy on the revenue side as travelers return. However, the legacy network footprint is a slightly bigger overhang than its network peers and the cap structure will likely take years to normalize, which could remain overhangs on the stock."

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 $59.21 yesterday.

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