UPDATE: Dahlman Rose Raises PT on United Continental Holdings on February Operating Results

In a report published Friday, Dahlman Rose reiterated its Buy rating on United Continental Holdings UAL, and raised its price target to $35.00. Dahlman Rose noted, “United Airlines reported February operating results with consolidated traffic down by 3.4% on a decline in capacity of 8.4%. United has been rationalizing its route system as it works through the merger with Continental Airlines. We expect capacity to continue to be rationalized as United adjusts equipment through the network to better reflect supply and demand. For example, year to date, Atlantic capacity is down by 9.9% while traffic is down by 6.7% and Pacific capacity is down by 2.9% while traffic is up by 3.8%.” United Continental Holdings closed on Thursday at $29.61.