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Today's Exclusive Story UAL Stock Taking Flight After Earnings Confirm Strong DemandAuthored by Chris Markoch. Originally Published: 1/22/2026. 
Key Points - United Airlines stock jumped after earnings confirmed strong demand from premium and corporate travelers.
- Analysts see more than 20% upside as price targets rise following solid guidance.
- Traders eye momentum near 52-week highs while long-term investors focus on valuation and earnings durability.
United Airlines (NASDAQ: UAL) stock is up more than 2% after the company released its fourth-quarter earnings report for 2025. Despite headwinds from the November government shutdown, United posted record revenue, driven by strong demand from higher-income and corporate travelers. Revenue came in at $15.4 billion, topping analyst estimates of $15.35 billion by roughly 0.35%. But it was the earnings read that appears to have sparked the rally in UAL stock. The former CEO of Google calls it the most important thing to happen in 500, maybe 1,000 years of human society. A former U.S. Treasury Secretary says when your great-grandchildren write the history of this period, the political headlines will be the second or third story. The first story is something none of us have seen before. The dot-com collapse, global financial crisis, and COVID-19 pandemic don't compare to what's coming next. We may be entering a period of dramatic, almost unimaginable change. See the full warning and how to prepare now. Heading into the report, the whisper number suggested United might surprise to the upside. In fact, United matched that number exactly: earnings per share of $3.10. That was about 5.4% above the estimate, though roughly 4% lower year over year. The K-Shaped Economy Remains Strong United reported robust performance in premium cabins, corporate travel and loyalty-program revenue, while demand among lower-income, more price-sensitive consumers remains soft. That pattern is a classic example of the K-shaped economy many companies are facing. Investors heard a similar message from Delta Air Lines (NYSE: DAL) when it reported on Jan. 14. Despite the uneven recovery, both United and Delta are posting stronger profits and forecast sustained demand into 2026. United also said it plans to take delivery of more than 100 narrowbody jets and about 20 Boeing widebodies in 2026, which should help it meet demand across both higher- and lower-income segments. Is UAL Stock Expensive? As of the company's earnings report, UAL trades at a price-to-earnings (P/E) ratio of 11.14x, a premium to its historical average. Investors should consider two points. First, the company's forward P/E is roughly 8x, which looks more reasonable. Second, some analysts argue United—and Delta—deserve higher multiples given their demonstrated ability to navigate a challenging environment versus peers. The Outlook for UAL Stock Just Got More Bullish Prior to the report, UAL was down more than 2% year-to-date in 2026 after hitting a 52-week high in mid-December. The post-earnings move pushed the stock above $111, and some analysts now view the buy zone as extending to just over $116.  That places the stock a fraction below its 52-week high, but analyst sentiment is generally bullish. The consensus price target is $134.94, implying over 21% upside from $110.77 at the time of writing. Since the start of the year, eight analysts have issued bullish calls on UAL. Many targets are above the consensus, with Citigroup's $153 projection the highest. That divergence can widen the practical entry range. Traders may view UAL as a momentum play tied to technical levels, while long-term investors could see the recent pullback as an opportunity to establish or add to positions ahead of a potential re-rating. For traders, UAL's move back toward its 52-week high suggests momentum is returning. A pullback into the $111–$116 range could provide an attractive risk-reward entry if support holds and volume remains healthy. More aggressive traders may wait for a confirmed breakout above the prior high, using analyst targets as potential profit-taking zones rather than reasons to remain fully invested. For buy-and-hold investors, the setup is different. With multiple analysts raising price targets and consensus implying more than 20% upside, the $111–$116 range may be a reasonable zone to accumulate gradually while monitoring whether United can sustain earnings growth and margin improvement through the rest of 2026.
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