Jamie Baker, JP Morgan analyst, raised estimates and overall RATING on UAL.
Unfortunately for AAL, noting the increased headwinds, he decreased earnings estimates and price target.
For ALK, he decreased estimates, price target and rating.
If you assume at some point UAL will have good pre-tax margins ... they had 9% last quarter ... take 9% (or at some point 12%) and figure their profit on $40 billion in sales ... divide it by their 340 million shares. Their eps will be double digits.