Barclays upgraded the airline to overweight. The firm also raised its price target to $80 from $52, implying 53.5% upside from Thursday's close price.
Shares of United Airlines could be in for big gains, according to Barclays. Analyst Brandon R. Oglenski upgraded the airline to overweight. He also raised its price target to $80 from $52, implying 53.5% upside from Thursday's close price. "Focused leadership and ambitious earnings plans coupled with outsized exposure to growing and lucrative long-haul markets drives attractive risk/reward in UAL shares despite incrementally risky balance," Oglenski wrote in a Friday note.
"We will address the likely immediate investor pushback on our United upgrade up front: Are you crazy being long UAL with close to $20bn in capital spending the next two years?" the analyst said. "The answer: while United's balance sheet is not likely to see any material de-levering in the near-term, we also suspect delivery delays from Airbus and Boeing make spending the whole $20bn a bit of a challenge.
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