Selected stock price target news of the day - April 18th, 2024

By: Matthew Otto

United Airlines Reports Revenue Growth and Fleet Adjustments in Q1 2024 Earnings Call

United Airlines Holdings revealed its financial performance for the first quarter of 2024, showcasing a revenue increase of 9.7% despite a mere 9.1% growth in capacity. The airline’s domestic revenue surged by 6.1%, outstripping industry averages, while international performance saw a 4.2% decline in passenger revenue per available seat mile. United’s premium passenger revenue witnessed an uptick of 14% year-over-year on 10% more capacity. Additionally, reported a pretax loss of $79 million, marking an improvement of $187 million compared to the same period last year.

United Airlines revealed plans to receive 61 narrowbody aircraft and five widebody aircraft in 2024, a deviation from the initially anticipated 183 narrowbody deliveries. This shift in delivery schedules led to a reduction in projected capital expenditures, from $9 billion to approximately $6.5 billion for the year.

Looking ahead, United expressed to achieve its full-year earnings target of $9 to $11 per share.

Analysts Raise Price Targets Amid Optimistic Outlook

Susquehanna analyst Christopher Stathoulopoulos maintained a Positive rating and raised the price target from $55 to $60.
Morgan Stanley analyst Ravi Shanker reiterated an Overweight rating yet increased the price target from $75 to $80.
BofA Securities analyst Andrew Didora kept a Buy rating and upgraded the price target from $60 to $70.

Which Analyst has the best track record to show on UAL?

Analyst Andrew Didora (BAML) currently has the highest performing score on UAL with 12/14 (85.71%) price target fulfillment ratio. His price targets carry an average of $12.46 (28.62%) potential upside. United Airlines Holdings stock price reaches these price targets on average within 165 days.

PNC Financial Highlights Performance and Sector Challenges in Q1 2024 Earnings Call

The PNC Financial Services Group has announced its first-quarter financial results, revealing a net income of $1.3 billion, translating to $3.36 per share after adjusting for the FDIC special assessment. Core expenses amounting to $3.2 billion, reflecting a decrease of $205 million or 6% compared to the previous quarter. Total revenue experienced a decline of $216 million or 4% compared to the fourth quarter of 2023, with net interest income dropping by $139 million or 4%.

Non-performing loans increased by $200 million or 9% linked quarter, primarily driven by commercial real estate. PNC reported net loan charge-offs of $243 million in the first quarter, resulting in an annualized net charge-off ratio of 30 basis points.

Looking forward, PNC expects economic expansion in the second half of the year, with real GDP growth forecasted at approximately 2% for 2024. They anticipate the Federal Reserve to implement two rate cuts in 2024, with 25 basis point decreases expected in July and November.

Analysts Offer Varied Perspectives Following Earnings Call

Barclays analyst John Coffey maintained an Equal-Weight rating while lowering the price target from $18 to $17.
Susquehanna analyst James Friedman reiterated a Positive rating but lowered the price target from $24 to $21.
Meanwhile, Goldman Sachs analyst Tito Labarta maintained a Buy rating yet decreased the price target from $21 to $18.

Which Analyst has the best track record to show on PNC?

Analyst Saul Martinez (HSBC) currently has the highest performing score on PNC with 8/12 (66.67%) price target fulfillment ratio. His price targets carry an average of $-6.6 (-4.08%) potential downside. PNC Financial Services Group stock price reaches these price targets on average within 146 days.

Sands Reports Q1 2024 Earnings Amidst Growth Trajectory in Macao and Performance in Singapore

Las Vegas Sands Corp first-quarter 2024 earnings call revealed resilient financial performance amidst ongoing capital investment programs. Macao reported an EBITDA of $610 million, with an expected increase of $31 million had rolling programs met projections, showcasing a margin of 34.4%, up 380 basis points from the previous year. The Macao market’s annual gaming revenue hit $28 billion, reflecting a steady upward trajectory from $17 billion in Q1 of the preceding year. In Singapore, Marina Bay Sands achieved an EBITDA of $597 million, though it could have been $77 million higher had rolling play segments met expectations.

Sands’ investments in both regions underscore a commitment to long-term growth and shareholder value, evident in the $450 million stock repurchase and acquisition of $250 million worth of Sands China Limited stock. This solidified its ownership interest in SCL to approximately 71%.

Analysts Adjust Price Targets Amidst Market Dynamics

Mizuho analyst Ben Chaiken maintained a Buy rating and lowered the price target from $70 to $65.
Wells Fargo analyst Daniel Politzer reiterated an Overweight rating yet downgraded the price target from $62 to $60.
JP Morgan analyst Joseph Greff maintained an Overweight rating and lowered the price target from $59 to $55.

Which Analyst has the best track record to show on LVS?

Analyst Daniel Politzer (WELLS FARGO) currently has the highest performing score on LVS with 7/12 (58.33%) price target fulfillment ratio. His price targets carry an average of $14.05 (28.13%) potential upside. Las Vegas Sands Corp stock price reaches these price targets on average within 188 days.