Delta Air Lines On Line To Gain Demand Growth, Says BofA Analyst
Portfolio Pulse from Shivani Kumaresan
BofA Securities analyst Andrew G. Didora has reiterated a Buy rating on Delta Air Lines Inc (NYSE:DAL) and increased the price target from $53 to $55, following Delta's reported first-quarter 2024 operating revenue growth of 8% year-over-year to $13.748 billion and an adjusted EPS of $0.45, surpassing the consensus of $0.36. The positive outlook, driven by better-than-expected unit revenue and cost control, along with robust demand for transatlantic and premium products, has led to an increase in the 2024E EPS forecast to $6.81 from $6.57. Delta's shares rose 3.1% to $47.67.
April 11, 2024 | 5:40 pm
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Delta Air Lines Inc (NYSE:DAL) received a Buy rating from BofA Securities with a raised price target from $53 to $55, following a strong first-quarter 2024 performance with an 8% revenue growth and an adjusted EPS of $0.45, exceeding expectations. The positive demand outlook and efficient cost control have led to an upward revision of the 2024E EPS to $6.81.
The upgrade by BofA Securities, including the raised price target and the positive commentary on Delta's financial performance and demand outlook, is likely to instill confidence among investors. The reported revenue growth and EPS beat, along with the optimistic projections for 2024, suggest a strong operational and financial footing for Delta, which could drive the stock price up in the short term.
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