Wheels Up Experience (UP) Stock: $5.90 Price Target From Morgan Stanley

By Amit Chowdhry ● Nov 17, 2021
  • 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.

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.