United Airlines Stock Today (November 22, 2025): UAL Price, Outlook, and Key News for Investors

United Airlines Holdings (NASDAQ: UAL) finished the last trading session before today on a firm footing, extending its recovery from earlier November volatility but still trading well below its 52‑week high.

Because U.S. markets are closed today (Saturday, November 22, 2025), the latest actionable data for United Airlines stock comes from Friday’s close on November 21.

United Airlines Stock Price Snapshot for November 22, 2025

As of the close on Friday, November 21, 2025:

Last close (UAL):$92.20 per share
Daily move:+2.39% versus Thursday’s close of $90.05, breaking a two‑day losing streak ^[1]
Intraday range: Roughly $89.95 – $95.37 ^[2]
Volume: About 10.2 million shares, well above the recent 50‑day average of ~6.2 million, signalling heightened investor interest ^[3]
Market capitalization: Around $29 billion ^[4]
52‑week range:$52.00 (low) – $116.00 (high), with the stock still about 20% below its January 22 peak ^[5]
Valuation: Roughly 9x trailing earnings, with a price‑to‑earnings‑growth (PEG) ratio near 0.9 and a beta around 1.45, underscoring both perceived value and above‑market volatility ^[6]

Different data providers show UAL roughly around the flat line for 2025, with some calculating a mid‑single‑digit decline and others a modest gain year‑to‑date. ^[7] Either way, the stock has lagged the broader S&P 500’s double‑digit return over the past year. ^[8]

United Airlines is also a constituent of the S&P 500, with a small but notable weight of roughly 0.05% in the index, which helps anchor demand from index and ETF investors. ^[9]

What Is Moving United Airlines Stock Right Now?

Friday’s nearly 2.4% gain in UAL came after a choppy week in which the stock was hit by analyst revisions but supported by strong fundamental and macro tailwinds.

1. Bounce after Wolfe Research price‑target cut

Earlier this week, United shares slid roughly 3% intraday after Wolfe Research lowered its price target on the airline, citing softer passenger demand and only modest gains in revenue passenger miles. ^[10]
A separate note also trimmed Wolfe’s UAL target from $117 to $115 while still maintaining an Outperform” rating. ^[11]

Friday’s rally looks like a partial reversal of those downgrade‑driven losses as investors stepped in around the high‑$80s to low‑$90s, a zone many see as attractive relative to earnings power and long‑term demand trends.

2. Holiday travel and macro backdrop

United enters Thanksgiving and year‑end travel season with encouraging industry data in its favour. AAA and other forecasters expect record 2025 holiday travel, with nearly 82 million travellers anticipated, while the FAA has recently lifted certain flight restrictions following the latest U.S. government shutdown—both supportive for large network carriers like United. ^[12]

At the same time, peer Delta Air Lines reported robust third‑quarter results driven by premium and corporate travel, underscoring a still‑healthy backdrop for full‑service airlines that focus on higher‑yield segments such as United. ^[13]

3. Bargain stock” narrative gains traction

United has increasingly been framed as a value play within the S&P 500. A recent MarketWatch analysis highlighted UAL among a small group of index members trading at single‑digit forward P/E ratios while expected to grow earnings per share faster than the S&P 500 average through 2027. ^[14]

That dovetails with broader research showing UAL trading below consensus estimates of fair value, even as forecasts call for solid profit growth over the next few years. ^[15]

Earnings and Guidance: United’s 2025 Scorecard So Far

Fundamentals remain central to the UAL story, and 2025 has so far been about steady profitability, modest growth, and incrementally better guidance.

First quarter: Best Q1 in five years

In April, United reported its best first‑quarter financial performance in five years, with:

Record Q1 revenue of $13.2 billion
A pre‑tax margin of 3.6% (3.0% on an adjusted basis)
Total revenue per available seat mile (TRASM) up 0.5% year‑over‑year ^[16]

Delivering a profit in what is typically one of the weakest quarters for airlines helped reinforce the idea that United’s post‑pandemic restructuring and network changes are sticking.

Third quarter: EPS beat, revenue near expectations

For Q3 2025, United again beat the Street on earnings:

Adjusted EPS:$2.78, ahead of the ~$2.64 consensus and above management’s own guidance range of $2.25–$2.75 ^[17]
Revenue: Approximately $15.2–15.23 billion, up 2.6% year‑over‑year and only slightly below analyst expectations of about $15.3 billion ^[18]
Profitability: Net margin of around 5.6% and return on equity near 27% ^[19]

United also reported that premium cabin revenue grew faster than the total—around 6%, with loyalty revenue up roughly 9%, illustrating the strength of higher‑margin segments like business travel, premium leisure and frequent‑flyer activity. ^[20]

Q4 guidance: Aiming for record revenue

Looking ahead, management has guided to what it calls its highest‑ever quarterly revenue in the current Q4 2025:

Adjusted Q4 EPS guidance:$3.00–$3.50 per share, above many analysts’ prior expectations ^[21]

United plans to invest roughly $1 billion in upgrades to lounges, Starlink-powered in‑flight Wi‑Fi and new entertainment options, aiming to deepen its premium brand positioning and loyalty moat even as it chases margin expansion. ^[22]

Valuation, Analyst Targets and Big‑Money Flows

Wall Street’s view: Mostly bullish, but not unanimous

Across major brokerages, United Airlines stock currently carries a consensus Buy” rating, with:

Around 16 analysts covering the stock
A mix of 2 strong buy”, 12 buy”, and 2 hold” ratings
An average 12‑month price target near $125–$126, implying mid‑30% upside from Friday’s $92.20 close ^[23]

Recent research notes include price‑target increases from firms such as Evercore ISI (up to roughly $135) and Susquehanna (toward $115), reflecting improved confidence in United’s margin trajectory and earnings power. ^[24]

However, purely technical and short‑term trading models haven’t been uniformly upbeat. At least one quantitative service currently flags UAL as being in a wide and falling trend” over the short run, warning of potential near‑term weakness despite the favourable longer‑term fundamental story. ^[25]

Institutional ownership: Vanguard leads the pack

On the institutional side, Vanguard Group Inc. recently disclosed that it has lifted its stake in United to about 37.3 million shares, or roughly 11.5% of the company, valued around $3.0 billion. ^[26]

Other institutional investors have been actively adjusting their positions:

Some, such as Empirical Finance LLC and Universal Beteiligungs und Servicegesellschaft mbH, have added to their holdings, citing the earnings beat and attractive valuation. ^[27]
Others, including certain asset managers, have trimmed stakes, likely locking in gains after the stock’s strong recovery from early‑year lows. ^[28]

Overall, roughly 70% of UAL shares are held by hedge funds and other institutional investors, underscoring the stock’s profile as a core institutional airline holding rather than a niche trade. ^[29]

Why Bulls Like United Airlines Stock

From a long‑term investor’s perspective, several themes explain why UAL continues to feature on bargain stock” and value with growth” lists:

Attractive valuation: A trailing P/E near 9 and PEG below 1 is low for a company expected to grow EPS faster than the S&P 500 average over the next few years. ^[30]
Earnings momentum: Repeated EPS beats in 2025, plus guidance for record Q4 revenue, suggest United is executing well despite macro headwinds. ^[31]
Premium and loyalty strength: Faster growth in premium and loyalty revenue supports a structurally higher margin mix versus purely price‑driven models. ^[32]
Sector tailwinds: Peers like Delta are also posting solid premium and corporate travel numbers, signaling an industry environment that still favours full‑service carriers. ^[33]
Index and ETF support: Inclusion in the S&P 500 and broad U.S. equity ETFs helps anchor a base of long‑term demand for the shares. ^[34]

Key Risks and What Could Go Wrong

Despite its strengths, United Airlines stock remains cyclical and high‑beta, and investors should weigh several risks:

Demand and economic sensitivity: Slower global growth or a sharp downturn in business travel could undermine the premium and international mix that is currently powering United’s margins. ^[35]
Fuel and hedging risk: United has hedged a significant portion of its 2025 fuel needs, which helps smooth volatility but can backfire if prices drop sharply or spike beyond hedged levels. ^[36]
High leverage: A debt‑to‑equity ratio around 1.45, combined with modest liquidity ratios (quick ratio ~0.61; current ratio ~0.67), leaves less room for error in a severe downturn. ^[37]
Operational and regulatory challenges: Congestion at key hubs, weather disruptions, regulatory scrutiny and labour negotiations can all pressure costs and on‑time performance, with direct knock‑on effects to customer satisfaction and profitability. ^[38]
Volatile trading history: 2025 has already featured double‑digit single‑day moves in UAL, both up and down, underlining that investors should be prepared for significant price swings. ^[39]

Outlook: What to Watch Next for UAL

Looking beyond today, investors tracking United Airlines stock may want to watch:

Holiday travel performance: Passenger volumes, load factors and pricing through Thanksgiving and the December holidays will be an early test of United’s bullish Q4 guidance. ^[40]
Q4 2025 and early‑2026 commentary: The next scheduled earnings update (currently projected for January 20, 2026) will provide updated guidance, capacity plans and progress toward management’s long‑term margin goals. ^[41]
Fuel prices and hedging updates: Any change in the jet fuel outlook or hedging strategy could materially affect 2026 earnings forecasts. ^[42]
Further analyst moves: Additional price‑target revisions—up or down—could influence short‑term sentiment and trading, especially given the stock’s high beta and strong institutional ownership. ^[43]

Bottom Line

As of November 22, 2025, United Airlines stock sits in a middle lane: well off this year’s lows, still about 20% below its 52‑week high, trading at a value‑style earnings multiple, and backed by a growth story tied to premium travel, loyalty economics and record Q4 guidance. ^[44]

For investors, UAL remains a high‑conviction but high‑volatility airline play. Those bullish on long‑term air travel demand, premiumization and United’s network strategy may see current levels as an interesting entry point, while more conservative investors may be wary of the leverage, sector cyclicality and sharp price swings that still define the stock.

As always, this article is informational only and not personalized investment advice. Consider your own financial situation, risk tolerance and time horizon—or consult a qualified financial adviser—before making any investment decisions.