Originally Posted by sinoflyer

"United Upgraded On Solid Outlook"

According to this analysis, UA is upgraded from "underperform" to "neutral." I think you can interpret it two ways: 1) UA's March-May performance (or the lack thereof) was expected, and perhaps it was better than expectations; 2) the "neutral" recommendation suggests that the jury is still out on UA's long-term prospects. I believe there's an element of truth in both.

Mind you, UA had stated earlier that they deliberately reduced bookings (via pricing, etc.) in advance of the March 3 cutover, so the reduced PRASM is in some ways exactly what UA had planned.