These Analysts Boost Their Forecasts On United Airlines Following Strong Q3 Earnings

United Airlines UAL reported better-than-expected third-quarter financial results and announced a $1.5 billion buyback program, after the closing bell on Tuesday.

United Airlines reported third-quarter revenue of $14.843 billion, beating the consensus estimate of $14.783 billion, according to Benzinga Pro. The airline company reported adjusted earnings of $3.33 per share, beating analyst estimates of $3.13 per share.

"As predicted, unproductive capacity left the market in mid-August, and we saw a clear inflection point in our revenue trends that propelled United to exceed third-quarter expectations," said Scott Kirby, CEO of United Airlines. "A prosperous summer 2024 is just the beginning as our improved customer experience combined with United Next positions the airline at the top of the industry for the foreseeable future."

United Airlines expects fourth-quarter adjusted earnings to be in the range of $2.50 to $3 per share versus estimates of $3.17 per share, according to Benzinga Pro. The company said it continues to expect full-year 2024 adjusted capital expenditures to be less than $6.5 billion.

United Airlines shares gained 2.9% to trade at $74.12 on Thursday.

These analysts made changes to their price targets on United Airlines following earnings announcement.

• Morgan Stanley analyst Ravi Shanker maintained United Airlines with an Overweight and raised the price target from $80 to $88.
• B of A Securities analyst Andrew Didora maintained the stock with a Buy and raised the price target from $70 to $84.
• Susquehanna analyst Christopher Stathoulopoulos maintained United Airlines with a Positive and boosted the price target from $70 to $85.
• Bernstein analyst David Vernon maintained the stock with an Outperform and raised the price target from $68 to $85.
• TD Cowen analyst Helane Becker maintained United Airlines with a Buy and raised the price target from $80 to $100.

Considering buying UAL stock? Here’s what analysts think:

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