Chicago, Illinois-based United Airlines Holdings, Inc. (UAL) owns and manages airlines that transports people and cargos serving customers worldwide. With a market cap of $25.2 billion,  the company also offers catering, ground handling, flight academy, and maintenance services for third parties.

Shares of this leading airline holding company have outperformed the broader market considerably over the past year. UAL has gained 46.8% over this time frame, while the broader S&P 500 Index ($SPX) has rallied nearly 8.6%. However, in 2025, UAL stock is down 20.4%, compared to the SPX’s 3.8% decline on a YTD basis. 

Zooming in further, UAL’s outperformance looks more pronounced compared to the U.S. Global Jets ETF (JETS). The exchange-traded fund has gained about 5.8% over the past year. However, the ETF’s 13.9% losses on a YTD basis outshine the stock’s dip over the same time frame.

UAL’s outperformance can be linked to the U.S. government’s plans to spend "tens of billions" to upgrade the air traffic control system, which will hopefully help eradicate concerns about flying related to the high number of high-profile incidents recently.

On Apr. 15, UAL shares closed up by 2% after reporting its Q1 results. Its adjusted EPS of $0.91 exceeded Wall Street expectations of $0.75. The company’s revenue was $13.21 billion, missing Wall Street forecasts of $13.22 billion.

For the current fiscal year, ending in December, analysts expect UAL’s EPS to decline 3.1% to $10.28 on a diluted basis. The company’s earnings surprise history is impressive. It beat the consensus estimate in each of the last four quarters.

Among the 22 analysts covering UAL stock, the consensus is a “Strong Buy.” That’s based on 19 “Strong Buy” ratings, one “Moderate Buy,” and two “Holds.”

This configuration is slightly less bullish than two months ago, with 20 analysts suggesting a “Strong Buy,” and two analysts recommending a “Moderate Buy.” 

On Apr. 22, TD Cowen analyst Tom Fitzgerald kept a “Buy” rating on UAL and raised the price target to $88, implying a potential upside of 13.9% from current levels.

The mean price target of $97.55 represents a 26.2% premium to UAL’s current price levels. The Street-high price target of $140 suggests an ambitious upside potential of 81.2%.