Bernstein Remains Bullish On United Airlines Holdings Inc. (UAL)

United Airlines Holdings Inc. (NASDAQ:UAL) is among the 8 Best Airline Stocks to Buy Heading into 2026.

Bernstein Kept Buy Rating On United Airlines Holdings Inc. (UAL)

On November 20, 2025, David Vernon of Bernstein kept his Buy rating on United Airlines Holdings Inc. (NASDAQ:UAL) with a price target of $123. Earlier, on November 7, 2025, Vernon had reiterated his Buy rating on the company but raised the price objective from $121 to $123.

According to its most recent 13F filing with the SEC, Sanders Capital LLC reduced its holdings in United Airlines Holdings Inc. (NASDAQ:UAL) by 0.3% during the second quarter, as reported by Marketbeat on 17 November 2025. The institutional investor held 14,514,915 shares of the company’s stock after selling 39,060 during the quarter. Sanders Capital LLC’s 19th largest holding is United Airlines, which accounts for roughly 1.6% of the company’s total assets. At the end of the most recent quarter, Sanders Capital LLC had a $1,155,823,000 stake in United Airlines, or about 4.48%.

The company reported impressive third-quarter 2025 results in mid-October, driven by solid increases in premium and loyalty revenue, highlighting the carrier’s strength in high-margin areas. Total operating revenue jumped 2.6% year over year, caused by a 6% surge in premium cabin revenue and a 9% increase in loyalty revenue. Adjusted earnings reached $2.78 per share, outperforming Wall Street and internal guidance estimates by $0.10 per share due to capacity expansion and cost reductions. The company also anticipated Q4 EPS of $3.00-$3.50, above the consensus of $2.87. It also forecasts the highest total operating revenue in the business’s history.

​​United Airlines Holdings Inc. (NASDAQ:UAL) is a key US network airline with hubs in San Francisco, Chicago, Houston, Denver, Los Angeles, Newark, and Washington.

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