BofA analyst Andrew Didora raised the firm’s price target on United Airlines (UAL) to $100 from $84 and keeps a Buy rating on the shares. Airline stocks have performed well since last week’s election, with the Dow Jones US Total Market Airlines Index up 12%, and “the outsized move makes sense to us as airline equities have a high beta,” current fundamentals are “encouraging” given decelerating domestic capacity growth and the election results are generally positive for fundamentals and earnings, the analyst tells investors.
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