Imperial Capital Raises Price Target on Delta Air Lines (DAL) to $44

October 14, 2016 7:13 AM EDT
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Price: $50.50 +1.61%

Rating Summary:
    20 Buy, 5 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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Imperial Capital reiterated an In-Line rating on Delta Air Lines (NYSE: DAL), and raised the price target to $44.00 (from $41.00), after adjusting estimates following the company's 3Q earnings report. Imperial now estimates FY17 PRASM will decline by (0.5%) versus (1.5%) previously. EPS estimates have been lowered to $1.10 from $1.35.

Analyst Michael Derchin commented, "We are maintaining our In-Line rating and our lowering our estimates on higher unit costs, but increasing our one-year price target on DAL shares to $44 from $41 on higher valuations due to improving unit revenue trends. We now estimate FY17 PRASM will decline by (0.5%) versus (1.5%) previously. Our price target is about 10% above the recent share price. We are lowering our 4Q16 EPS estimate to $1.10 from $1.35, our FY16 EPS estimate to $5.67 from $5.75, and our FY17 estimate to $5.25 from $5.46."

For an analyst ratings summary and ratings history on Delta Air Lines click here. For more ratings news on Delta Air Lines click here.

Shares of Delta Air Lines closed at $40.01 yesterday.

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