United Airlines Stock Brushes Off Double Upgrade

Barclays noted UAL will benefit from increased overseas travel

Deputy Editor
Mar 10, 2023 at 11:07 AM
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United Airlines Holdings Inc (NASDAQ:UAL) received a double-upgrade from Barclays this morning to "overweight" from "equal weight," alongside a price-target hike to $80 from $52. The analyst in coverage noted that the airline will "especially" benefit from Asia's reopening and trans-Atlantic recovery, as it holds the largest market share across intercontinental routes. United Airlines stock is brushing off the bull note, however, down 2% at $51.08 at last glance. 

This negative price action --combined with yesterday's 3.9% gap lower -- has the shares heading toward their first weekly loss in a month. Keep an eye on UAL's 40-day moving average, which was support back in late February and is getting tested today. Year-to-date, the equity is up 35.8%. 

Options traders are taking a bearish stance today despite the double-upgrade. So far, 12,000 puts have exchanged hands -- double the intraday average amount -- compared to 7,336 calls. The April 48 and 41 puts are the most popular, with new positions opening there. 



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