United Airlines is the airline stock to own in 2023, according to Cowen. Analyst Helane Becker named the stock her top pick for next year, saying United Airlines is an industry leader with the greatest exposure to a recovery in international travel. The analyst’s $65 price target implies roughly 47% upside from Wednesday’s close of $44.17. “We are staying with United Airlines as our top pick for 2023. It has been a star performer in 2022, significantly outperforming the S & P 500 and NYSE ARCA Airline indexes YTD,” Becker wrote in a Thursday note. “The carrier’s network and alliances position it to benefit from the recovery in international travel. It has a strong liquidity buffer that should allow it to continue paying down debt and navigate any macro choppiness,” Becker added. The analyst pointed out that United Airlines is adding international routes in leisure destinations for summer 2023 after seeing success with a majority of new additions this year. The airline also has more lie-flat seats than other U.S. competitors to attract more high-net-worth customers. Other kinds of travel are also expected to continue recovering in 2023. The analyst expects that there will be opportunities in business travel, which remains at about 80% of pre-pandemic levels, according to the note. “We are not anticipating a full recovery of business travel, but believe the hybrid work environment is likely to continue into 2023. Expect people traveling for business to stay a few days for leisure (e.g., Miami in the winter for northern travelers),” Becker wrote. Shares of United Airlines are up slightly in 2022. —CNBC’s Michael Bloom contributed to this report.