Morgan Stanley raised the firm’s price target on United Airlines (UAL) to $80 from $75 and keeps an Overweight rating on the shares. United “shook off a noisy quarter” with a “healthy” Q1 beat, but the “main draw” yesterday was Q2 guidance coming in well above consensus expectations, the analyst tells investors. The market believes that the resilience of air travel demand, pricing and mix, together with lapping cost inflation and resilient capacity constraints, make United and Delta (DAL) “relative safe havens in a world of uncertain consumer trends,” the analyst added.
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