United Airlines price target raised to $72 from $59 at Bernstein

Bernstein raised the firm’s price target on United Airlines to $72 from $59 and keeps an Outperform rating on the shares. The company’s Q1 results leave the firm feeling good about the short term outlook as travel demand remains strong, but even more bullish about the set up for the airline, the analyst tells investors in a research note. Fears of unconstrained supply growth are also being vanquished by the reality of constrained production rates, Bernstein states, adding that even after a big runup in the stock, there’s “plenty of upside left”.