5 Best Airline Stocks To Buy Now

3. United Airlines Holdings, Inc. (NASDAQ:UAL)

Number of Hedge Fund Holders: 35

United Airlines Holdings, Inc. (NASDAQ:UAL) is headquartered in Chicago, Illinois, providing air transportation services in North America, Asia, Europe, Africa, the Pacific, the Middle East, and Latin America. On October 18, United Airlines Holdings, Inc. (NASDAQ:UAL) reported a Q3 non-GAAP EPS of $2.81 and a revenue of $12.88 billion, outperforming market estimates by $0.53 and $140 million, respectively. Revenue for the period climbed 66.2% year-over-year. Q4 2022 optimism was fueled by robust revenue and improving cost trends. 

Citi analyst Stephen Trent on October 21 raised the price target on United Airlines Holdings, Inc. (NASDAQ:UAL) to $65 from $56 and maintained a Buy rating on the shares. The analyst said concerns about a U.S. economic slowdown create an “interesting contrast” to United Airlines Holdings, Inc. (NASDAQ:UAL) posting resilient Q3 revenue, guiding Q4 earnings more than double the Street consensus, and reaffirming its 2023 pre-tax margin target of 9%.

Among the hedge funds tracked by Insider Monkey, 35 funds were long United Airlines Holdings, Inc. (NASDAQ:UAL) at the end of Q2 2022, compared to 31 funds in the preceding quarter. Israel Englander’s Millennium Management is a significant position holder in the company, with 3.5 million shares worth $126 million. 

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