United Slips to Underperform
April 14, 2011 at 13:51 PM EDT
We have downgraded our long-term recommendation on the largest U.S. airline United Continental Holdings Inc. (UAL) to Underperform from Neutral. We believe escalating fuel prices, weak traffic volumes and the March 11 catastrophe in Japan will hurt the company’s profits over the year. Persistently rising fuel prices since last December have surfaced as a major [...]