Shares of United Airlines Holdings (NASDAQ:UAL) gained 1.45% in after-hours trading after the company reported earnings for its third quarter of Fiscal Year 2023. Earnings per share came in at $3.65, which beat analysts’ consensus estimate of $3.38 per share.
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Sales increased by 12.5% year-over-year, with revenue hitting $14.48B. This beat analysts’ expectations by $70 million. The airline company said most of its revenue was driven by its boost in passengers, which raked in a whopping $13.35B, beating estimates of $13.25B. On the other hand, its Cargo revenue fell by 33% to $333 million, well below the estimated $347.6 million.
Is UAL a Good Buy?
Turning to Wall Street, analysts have a Moderate Buy consensus rating on UAL stock based on 11 Buys, three Holds, and one Sell assigned in the past three months, as indicated by the graphic below. Furthermore, the average UAL price target of $65.64 per share implies 63.45% upside potential.