United Airlines Holdings: International Re-Rating; Initiate Strong Buy

We initiate coverage on United Airlines Holdings, Inc. ( UAL ) with a Strong Buy rating and a $121 PT, and estimate FY25E revenue of$59.2bn (+2.5% y/y) and FY26E revenue of $63.3bn (+7.0% y/y). United Airlines Holdings, Inc. is a global air carrier providing passenger andMoretus Research delivers state-of-the-art, buy-side quality equity research for serious investors seeking clarity, conviction, and alpha. Focused on U.S. public markets, Moretus applies a structured, repeatable framework to identify compa ...