- The shares of Wheels Up Experience Inc (NYSE: UP) have received a price target of $5.90 from Morgan Stanley. These are the details.
The shares of Wheels Up Experience Inc (NYSE: UP) have received a price target of $5.90 from Morgan Stanley. And Morgan Stanley analyst Brian Nowak initiated coverage of Wheels Up with an “Underweight” rating.
Nowak sees a relatively small total addressable market for Wheels Up. And Nowak noted that the cost of flying private limits user adoption to the top 1% of highest-earning U.S. households.
The analysis is based on a total consumer addressable market at 513,000 U.S. households and $25 billion of total consumer spending with current household penetration at only 2% of this. And Nowak sees penetration heading to 5% by 2025 but struggles to get more aggressive than this without incremental adoption drivers.
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