United Airlines (UAL) Stock Surges 2.95% to 4-Day High on Fitch Upgrade, Profitability Boost

United Airlines Holdings Inc. (UAL) reached its highest level so far this month, with the stock surging 2.95% intraday on Jan. 6. The share price has climbed 3.09% over four consecutive trading days, reflecting renewed investor confidence in the carrier’s recovery trajectory and operational resilience.

The rally follows a credit rating upgrade by Fitch Ratings to ‘BB+’ in early January 2026, signaling improved financial stability after the airline repaid $1.52 billion in debt linked to its loyalty program. United’s profitability also bolstered optimism, with a 1,333% year-over-year jump in third-quarter operating income to $1.99 billion and a 59.7% increase in gross profit. These figures underscore the company’s ability to scale revenues while maintaining cost efficiency, despite a 27% dip in net income during the preceding quarter due to operational pressures.

Analysts have reinforced the bullish sentiment, with Wells Fargo, BMO Capital, and TD Cowen upgrading or initiating coverage with overweight/outperform ratings. The firm’s strategic focus on premium leisure travel, loyalty program enhancements, and technological investments—such as Starlink partnerships—has positioned it to capture high-margin demand. Institutional support, coupled with a trailing twelve-month EBIT margin of 16.99% and a market capitalization of $37.4 billion, highlights United’s competitive edge in the post-pandemic aviation landscape.

However, a P/E ratio of 11.57, while historically low, raises questions about valuation sustainability amid macroeconomic risks like inflation and fuel costs.