Investors should keep an eye on United Airlines (UAL).
Oversold, the stock could be ready to take off again. Just days ago, the stock fell on a CPI report showing U.S. airfares fell 3% from October to November, according to CFRA analyst Colin Scarola, as noted by Yahoo Finance.
However, “Scarola added that the sell-off was overdone and reiterated a Buy rating on United’s stock. He also raised his earnings estimates on United for 2022, 2023, and 2024 and took the price target to $60 from $59,” as added by Yahoo Finance. Better, analysts at Cowen just said, “United has the greatest exposure to the ongoing recovery in higher-margin international travel among U.S. airlines.”
Helping, UAL director Edward Shapiro just bought 25,000 shares for about $995,000 at an average price of $39.79. UAL last traded at $38.39—oversold on RSI, MACD, and Williams’ %R.