Goldman Sachs Cuts Industry Outlook as Government Shutdown Drags on United Airlines’ (UAL) Q4 Earnings Expectations

United Airlines Holdings Inc. (NASDAQ:UAL) is one of the best large cap value stocks to buy in 2026. On January 13, Goldman Sachs analyst Catherine O’Brien raised the firm’s price target on United Airlines to $129 from $115, while keeping a Buy rating. The firm has reduced the Q4 2025 net income forecast for the industry by 15% due to the significant economic drag from the government shutdown. Goldman Sachs specifically highlighted that the 43-day impasse disrupted federal spending and hit consumer liquidity, leading to more conservative earnings expectations for the final quarter.

On January 12, Barclays increased its price target for United Airlines to $150 from $135, while keeping an Overweight rating as part of its Q4 sector outlook. The firm suggested that airline guidance may exceed conservative consensus estimates, driven by strong demand momentum in late 2025, reduced industry growth in early 2026, and favorable yield comparisons.

Goldman Sachs Cuts Industry Outlook as Government Shutdown Drags on United Airlines’ (UAL) Q4 Earnings Expectations

Earlier on January 9, Susquehanna increased its price target for United Airlines Holdings Inc. (NASDAQ:UAL) to $150 from $117 with a Positive rating in anticipation of Q4 results. The firm believed the airline industry faces a favorable fundamental environment heading into 2026.

United Airlines Holdings Inc. (NASDAQ:UAL), through its subsidiaries, provides air transportation services in the US, Canada, the Atlantic, the Pacific, and Latin America.

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Disclosure: None. This article is originally published at Insider Monkey.