United Airlines selloff brings long-term opportunity, says Citi

Citi analyst Stephen Trent says United Airlines; regulatory filing last night cites an accrual of expenses, related to a potential new pilot agreement, that shift from Q1 into Q1. In addition to front-loading the expenses, United also cited post-pandemic demand seasonality that favors Q2 over Q1, with higher expected Q1 fuel costs also contributing to the quarter’s estimated loss, the analyst tells investors in a research note. In spite of Q1’s "bumpier outlook," United reiterated all other aspects of its 2023 guidance, the firm points out. Citi would treat any big stock price dips in United on Tuesday morning as "long-term buying opportunities." It keeps a Buy rating on the shares with a $65 price target.