United Airlines falls after Raymond James cuts rating on earnings risk

Shares of United Airlines Holdings UAL.O fall 2.6% to $66.45 premarket

Raymond James downgrades rating to "market perform" from "outperform", maintains PT of $130

"While we believe the recent pullback at UAL has overcorrected relative to the current environment where premium and long-haul international demand remain solid, we see greater earnings risk if these segments start to falter," says brokerage

As of last close, stock had fallen 29.76% YTD