UAL - upgraded by JPM

Whilst the main market settled significantly lower, there was notable strength in United Continental (UAL) which settled +1.9% at $67.01. JPM upgraded the stock to 'overweight', with a new p/t of $83. That isn't bold, considering the stock was trading in AH last week around 80/81.


UAL daily

UAL monthly

Summary

Suffice to note, last week's smack down was entirely unjustified, and its interesting to see someone from within the mainstream recognising realistic upside....

As things are, the stock is only fractionally net lower for the month. If the main market rebounds Wednesday, then UAL will manage a third consecutive net monthly gain. On balance, I think its likely.

Yours truly is m/t bullish to psy' $100. Again, considering the stock was trading at 80/81 just last week, $100 isn't bold by year end.