Dahlman Rose Reiterates Buy Rating, $29 PT on United Continental Holdings
In a report published Friday, Dahlman Rose & Co. reiterated its Buy rating and $29.00 price target on United Continental Holdings (NYSE: UAL).
Dahlman Rose noted, “As expected, United Continental updated 4Q12 investor guidance. More importantly, United provided booked load factors for the next six weeks, which show improving demand trends for January. We reiterate our Buy rating and $29 price target. United provided guidance for booked load factors over the next six weeks. Mainline domestic booked loads are up 6.4% points, mainline international is up 4.1% points, and regional is up 6.6% points. The international bookings are led by the Latin American region, up 5.6% points. The improving booked load factors imply strong demand in January, which is encouraging. We expected United to begin reporting a PRASM growth premium to its peers in 2013.”
United Continental Holdings closed on Thursday at $23.19.
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