Delta Air Lines 3Q23 Earnings In Focus: BofA Securities Expects No Surprises And Highlights Cost Pressure
Portfolio Pulse from Shivani Kumaresan
BofA Securities analyst Andrew G. Didora reiterated a Buy rating on Delta Air Lines Inc (DAL) with a price target of $50. The analyst expects no surprises in the upcoming 3Q23 earnings report due to the company's mid-September update. However, he sees a decrease in 4Q23 EPS to $1.00 from $1.09 due to cost pressures. The analyst also forecasts a 9.3% revenue growth in 4Q23 and believes DAL could guide to revenue growth of 8-11%. The 2023E EPS has been revised to $5.85 from $5.88, below the company's guided range of $6 - $7.
October 04, 2023 | 7:24 pm
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Delta Air Lines' 3Q23 earnings are expected to hold no surprises, but 4Q23 EPS is expected to decrease due to cost pressures. The 2023E EPS has been revised downwards, but the stock maintains a Buy rating with a $50 price target.
The analyst from BofA Securities expects no surprises in Delta's 3Q23 earnings, which could maintain investor confidence. However, the anticipated decrease in 4Q23 EPS due to cost pressures and the downward revision of 2023E EPS could potentially dampen investor sentiment. Despite these, the stock maintains a Buy rating with a $50 price target, indicating a positive outlook.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100