The following commentary comes from an independent investor or market observer as part of TheStreet's guest contributor program, which is separate from the company's news coverage.NEW YORK ( Trefis) -- The stock of United Continental Holdings ( UAL - Get Report) has gained about 18% since the start of this month as the sector exhibited strength following expected benefits from American Airlines' ( AMR) bankruptcy and some positive macro cues. Traffic declines in November, however, weighed on the sentiment for the stock.
While air transport markets in the rest of the world shrank during the global economic downturn of 2009, international air travel continued to grow for Middle East carriers, demonstrating the region's prominence in global air travel. International traffic continued to grow during 2010, rising 17.8% for Middle Eastern carriers -- far exceeding the world average of 8.2% growth. We currently have a Trefis price estimate of $26 for UAL, which represents a 22% premium to the market price on the last close. Click here to find out how a company's products impact its stock price at Trefis. Like our charts? Embed them in your own posts using the Trefis Wordpress Plugin.