According to Michael Quiello, United Continental Holdings Inc’s Vice President of Corporate Safety, the US air carrier is “optimistic” about Boeing Cos software update for 737 MAX aircraft.
United Air shares closed higher for a second consecutive trading session on NASDAQ on Thursday. The stock edged up 0.09% ($0.07) to $78.60, after touching an intraday high at $79.29 and an intraday low at $77.77.
Shares of United Continental Holdings Inc have retreated 6.13% so far in 2019 compared with a 12.31% gain for the benchmark index, S&P 500 (SPX).
In 2018, United Air’s stock went up 24.23%, thus, it outperformed the S&P 500, which registered a 6.24% loss.
“…the U.S. commercial aviation system is the safest in the world because its foundation is built on rigorous data analysis and evidence-based independent oversight, and we look to the FAA to employ these tools as it reviews and certifies this software update,” Michael Quiello said in a statement, cited by Reuters.
Meanwhile, American Airlines pilots also expressed optimism in regard to Boeing Co’s progress on a 737 MAX fix.
“We are optimistic with the progress, but cautious,” Allied Pilots Association, which represents American Airlines Group pilots, said in a statement earlier this week. “We are looking forward to the return of the MAX, but only when all stakeholders are ready,” it added.
According to CNN Money, the 18 analysts, offering 12-month forecasts regarding United Air’s stock price, have a median target of $103.45, with a high estimate of $120.00 and a low estimate of $78.00. The median estimate represents a 31.62% upside compared to the closing price of $78.60 on March 28th.
The same media also reported that 12 out of 23 surveyed investment analysts had rated United Air’s stock as “Buy”, while 8 – as “Hold”. On the other hand, 1 analyst had recommended selling the stock.
Weekly Pivot Levels
By using the traditional method of calculation, the weekly levels of importance for United Continental Holdings Inc (UAL) are presented as follows:
Central Pivot Point – $80.08
R1 – $81.41
R2 – $83.19
R3 – $84.52
R4 – $85.85
S1 – $78.30
S2 – $76.97
S3 – $75.19
S4 – $73.41