Delta Air Lines: No Turkey Here
Update - Dec. 19
The market is so off on airline stocks that Citi increased the PT on a stock already providing 67% upside. Most of the other legacy airlines are even cheaper. The market is so focused on recession fears, investors are missing the massive opportunity.
Citi analyst Stephen Trent raised the firm's price target on Delta Air Lines to $59 from $55 and keeps a Buy rating on the shares. Delta's combination of international route exposure, seat mile cost dilution and relatively stable fuel prices should support the shares over the next year, Trent tells investors in a research note. The analyst continues to view Delta as his favorite U.S. carrier. As the recovery on several international corridors seems to be six- to nine months behind the U.S. domestic recovery, Delta's passenger volumes could benefit "from this momentum," writes Trent.
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Update - Dec. 15
- After solid traffic demand during the Thanksgiving holiday, Delta Air Lines appears on pace to generate strong profits in Q4'22.
- The airline continues to trade like the future is cloudy and not represented by ~$4.50 in per share profits over the last 3 quarters.
- The stock is a gift here trading below 5x 2024 EPS targets.