JPMorgan analyst Jamie Baker added United Airlines (UAL) to the firm’s Analyst Focus List as a value strategy. International travel tailwinds coupled with a multi-year pilot and aircraft shortage continue to add to conviction that the “Big 3” airlines can continue their outperformance against domestic-centric carriers for some time, the analyst tells investors in a research note. The firm believes United has the most upside of the group. Coinciding with the United Airlines addition, JPMorgan removed Alaska Air (ALK) from the Focus List. Despite the company’s industry leading margins, the firm believes the risk/reward continues to favor the “Big 3 and will for some time.”
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