Market Overview

UPDATE: Bank of America Downgrades United Continental Holdings Following Earnings

Share:
Related UAL
Morning Market Gainers
Benzinga's Top #PreMarket Gainers
What You Need To Know About 2 New S&P 500 Members (Investor's Business Daily)

Bank of America downgraded United Continental Holdings (NYSE: UAL) from Neutral to Underperform and lowers the price target from $25.75 to $22.00.

Bank of America commented, "Even if earnings rise 70% in 2013, UAL's EPS will be 35% below 2010 levels, yet its stock is 7% higher. We believe the pace of UAL's recovery will continue to disappoint, and we are cutting our 2013E to $2.75 from $3.30 (Street $3.88), lowering our price objective to $22 from $25, and downgrading to Underperform. UAL trades at a 20% premium to the sector on 2013E pretax and EBITDAR."

United Continental Holdings, closed at $25.54 on Thursday.

Latest Ratings for UAL

DateFirmActionFromTo
Aug 2015Standpoint ResearchInitiates Coverage onBuy
Jul 2015Imperial CapitalMaintainsIn-line
Jul 2015Deutsche BankUpgradesHoldBuy

View More Analyst Ratings for UAL
View the Latest Analyst Ratings

Posted-In: Bank of AmericaAnalyst Color Downgrades Pre-Market Outlook Analyst Ratings

 

Related Articles (UAL)

View Comments and Join the Discussion!

Get Benzinga's Newsletters