Keep an eye on oversold shares of United Airlines (UAL).
As noted by CNBC, “Summer air travel is expected to soar. The Transportation Security Administration screened a high of 2.99 million individuals on Sunday, June 23 — exceeding a record set just weeks earlier on May 24 — and the TSA is forecasting a record-setting July 4 holiday period. TSA expects to screen more than 32 million travelers in all between Friday, June 28, and Monday, July 8, a 5.4% year-over-year increase in travel for the holiday.”
All of which could force shares of UAL even higher.
Plus, Citi analysts just raised their price target on UAL to $96 from $80, with a strong buy rating. Jefferies upgraded UAL to a buy rating with a price target of $65. And Wolfe Research just upgraded UAL to an outperform rating.
Sincerely,
Ian Cooper
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