United Airlines resumed with a Buy at Goldman Sachs

Goldman Sachs analyst Catherine O’Brien resumed coverage of United Airlines with a Buy rating and $51 price target. While positive on the backdrop for airlines, the analyst says the economic outlook is uncertain. In this environment, she favors stocks with "idiosyncratic earnings drivers, relatively more recovery tailwinds remaining, or characteristics that reduce downside risk." O’Brien is positive on United given its exposure to end markets that are still recovering and its growth plans "that are boosted by reactivation of 777 fleet."