United Airlines price target lowered to $68 from $71 at Bernstein

Bernstein lowered the firm’s price target on United Airlines to $68 from $71 and keeps an Outperform rating on the shares. U.S. airlines updated their Q3 guidance after jet fuel prices have climbed over 35% quarter-to-date, resulting in a material hit to Q3 margins and a pullback in share prices, the analyst tells investors in a research note. The firm says that with capacity growing, demand potentially plateauing, and higher input costs for labor and fuel investors are worried about the future. It continues to think the network carriers are in a better position to recover input cost inflation and have greater international offsets. Bernstein updated numbers to reflect higher fuel prices.