Wheels Up 24-month target stock price $19 to $21 per share, says analyst

Barrington Research analyst Gary Prestopino gives Wheels Up an outperform rating and says its stock price could double

Wheels Up celebrated its IPO and the first day of trading on the New York Stock Exchange last week. It can also cheer what appears to be a solid report card from Barrington Research’s Gary Prestopino.

SPAC Aspirational sets July 12 to approve Wheels Up merger

Kenny Dichter

Aspirational Consumer Lifestyle Corp. sets July 12 to approve its proposed business combination with Wheels Up Partners Holdings LLC

SPAC Aspirational Consumer Lifestyle Corp. (NYSE: ASPL) has set July 12, 2021, as the meeting date for the extraordinary general meeting of its shareholders to approve its merger with Wheels Up Partners Holdings LLC. It expects that the business combination will close on July 13, 2021, subject to the approval of Aspirational’s shareholders and the satisfaction of other customary closing conditions, according to a press release.

Wheels Up revenues surge to $261.7 million in Q1 as losses narrow

Wheels Up Teal King Air 350i

As it looks ahead towards its IPO via SPAC merger, Wheels Up reports revenues, memberships and flying is up while its financial loss is down

Wheels Up for the first time reported quarterly results. They come ahead of its planned merger with SPAC Aspirational Consumer Lifestyle Corp. Once completed, Wheels Up will trade on the NYSE under the ticker symbol UP.

Delta Air Lines values Wheels Up at $890 million

Wheels Up Delta Air Lines

The airline’s Q3 SEC filing valued its 27% stake from combining Delta Private Jets into Wheels Up at $240 million

Delta’s stake in Wheels Up is now worth nearly twice its 9% in Air France-KLM, one of Europe three largest airline conglomerates

When Delta Air Lines announced the deal to combine its Delta Private Jets unit into Wheels Up in December 2019, and then it closed in January 2020, terms were not disclosed.

However, in the airline’s 10-Q filing for the quarter ended Sept. 30, 2020, a number of details were revealed for the first time.

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