United Airlines upgrades, JetBlue downgrade and Spire initiation among today’s top calls on Wall Street
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Research analysts at Wall Street’s largest banks issue recommendations on whether a stock should be bought, held, or sold. The Fly’s team of financial market experts scours hundreds of research notes daily to uncover the best trading ideas. Check out today’s top analyst calls from around Wall Street, compiled by The Fly.
Top 5 Upgrades:
- JPMorgan analyst Jamie Baker double upgraded United Airlines (UAL) to Overweight from Underweight with a price target of $76, up from $60. Airline equities have rebounded as much as 60% from the recent fuel-panic lows achieved when demand trends were “grossly misunderstood,” but he does not believe investors have missed the recovery, saying history suggests “we’re nowhere near the point of demand destruction.” Baker does not believe investors need United Airlines to achieve the $9.50 in earnings per share implied by a 9% pretax margin for the stock to work from current levels and thinks the equity can outperform, even if management misses its guidance. Argus analyst John Staszak also upgraded United Airlines (UAL) to Buy from Hold with a $59 price target.