Why Analysts Cut United Airlines (UAL) Targets Even as Demand Held Up

United Airlines Holdings, Inc. (NASDAQ:UAL) is one of the stocks most affected by inflation.

As with other airline stocks in our list, UAL is facing the same inflationary pressure from the rising fuel cost.

Several Wall Street firms trimmed their price targets on the carrier in mid-March 2026 as rising fuel costs pressured near-term earnings assumptions, though analysts generally kept positive ratings in place. On March 20, Citi maintained its Buy rating and cut its price target to $132 from $155, saying higher fuel prices created downside risk to first-quarter, second-quarter, and full-year 2026 estimates across much of the airline group. Citi also said weaker estimates do not necessarily mean weaker stock performance.

Earlier, on March 16, Wells Fargo maintained an Overweight rating and lowered its target to $130 from $145, citing fuel risk and expected guidance cuts, while noting that demand remained strong and that premium airlines still looked attractive beyond the near-term headwind. On March 12, Jefferies maintained its Buy rating and lowered its target to $125 from $148, noting that jet fuel prices had risen about 50% from January averages when U.S. airlines first issued guidance, leading the firm to raise its first-half fuel cost estimates.

United Airlines Holdings, Inc. (NASDAQ:UAL) is a major U.S. airline that provides passenger and cargo air transportation through the United brand.

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