UAL up 10% in pre-market on analyst upgrade
United Airlines Inc.’s holding company UAL Corporation (Nasdaq:UAUA) is up more than 10% in pre-market trading after analysts at J.P. Morgan upgraded the company before the opening to “overweight” from “underweight.” Shares have fallen too quickly in recent trading, which implies the company is near bankruptcy, but the company is not at risk for it until 2009 and only in an extreme case, analysts said.
Ahead of opening, shares are at $5.62, up $0.55 from Thursday’s close. During the past year, shares have ranged from $2.80 to $51.60.
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