Imperial Capital analyst Michael Derchin lowered his price target for United Continental Holdings to $91 on expectations higher fuel costs will offset higher unit revenues. The analyst expects United Continental to report "strong" Q3 results tonight, but he thinks unit revenue growth will likely to slow in the off-peak Q4. The stock's valuation premium to its "Big 3" peers is likely to narrow due to its seasonal network resulting in weaker off-peak margins as well as capacity growth expected to exceed GDP growth, Derchin tells investors in a research note. He keeps an In-Line rating on United Continental.

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".

Notable gainers among liquid option names this morning include Genuine Parts (GPC) $159.09 +15.03, Globe Life (GL) $66.97 +3.74, Anthem (ELV) $532.10 +23.13, United Continental (UAL) $50.59 +1.84, and UnitedHealth (UNH) $494.80 +15.81.

Unusual total active option classes on open include: Wrap Technologies (WRAP), AstraZeneca (AZN), JetBlue (JBLU), United Continental (UAL), Taiwan Semi (TSM), Nokia (NOK), EBay (EBAY), Maplebear Inc (CART), Airbnb (ABNB), and UnitedHealth (UNH).

Raymond James raised the firm's price target on United Airlines to $70 from $66 and keeps an Outperform rating on the shares. United's 1H24 earnings trend drives greater confidence in the $9-$11 2024 EPS, the analyst tells investors in a research note. The firm believes the $7-$9B annual capital expenditures guidance for 2025-2027 was ahead of expectations that had been declining in recent months and plans for 100 narrowbody aircraft on average annually is considerable in terms of operational execution and potential growth, and expects United to focus on maximizing profits, with greater clarify on earnings and free cash flow targets at an investor day event likely later this year.

Get caught up quickly on the top news and calls moving stocks with these five Top Five lists. 1... To see the rest of the story go to thefly.com. See Story Here

Get caught up quickly on the top news and calls moving stocks with these five Top Five lists. 1... To see the rest of the story go to thefly.com. See Story Here

Says without approximately $200M impact Boeing (BA) 737 MAX 9 from grounding, United (UAL) would have reported a quarterly profit.

Seaport Research raised the firm's price target on United Airlines to $66 from $60 and keeps a Buy rating on the shares. The company reported Q1 results that "handily bettered consensus," the analyst tells investors. The firm notes no change has been made to its thesis made in January, but notes consensus for the year has to move higher.

Check out this morning's top movers from around Wall Street, compiled by The Fly.  HIGHER - Alcoa (AA)... To see the rest of the story go to thefly.com. See Story Here