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UPDATE: Bank of America Reiterates on United Continental on Shift to 2015-Based Valuation

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In a report published Friday, Bank of America analyst Glenn D. Engel reiterated an Underperform rating on United Continental (NYSE: UAL), and raised the price target from $28.00 to $33.50.

In the report, Bank of America noted, “For Southwest, we raise our 2014E slightly to $1.40 from $1.35 on slightly lower fuel assumptions for the balance of 2014. We are raising price objectives for both Southwest ($28 from $26) and United ($33.50 from $28) as we shift to 2015-based valuation. As long as the economy appears to be moving forward, supply remains contained, and oil prices more likely to go down than up, investors appear willing to look beyond even near-term earnings misses. Southwest remains our top pick.”

United Continental closed on Thursday at $44.93.

Latest Ratings for UAL

DateFirmActionFromTo
Jul 2019MaintainsBuy
Jun 2019UpgradesNeutralBuy
May 2019UpgradesEqual-WeightOverweight

View More Analyst Ratings for UAL
View the Latest Analyst Ratings

Posted-In: Bank of America Glenn D. EngelAnalyst Color Price Target Analyst Ratings

 

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