United Airlines (UAL) stock declined 2.15% on December 23, 2025, closing at $113.53, despite Fitch upgrading its credit rating to 'BB+' with a Stable outlook, citing debt reduction. Investor caution persisted, however, driven by future capital spending for fleet renewal and margin pressures. Earlier in December, analysts, including Wells Fargo and UBS, issued 'Buy' or 'Overweight' ratings with price targets up to $145, indicating a positive long-term outlook.