Delta Air Lines (DAL) PT Lowered to $56 at Jefferies

Jefferies analyst Sheila Kahyaoglu lowered the price target on Delta Air Lines (NYSE: DAL) to $56.00 (from $58.00) while maintaining a Buy rating.

The analyst comments "Our Q2 EPS estimate is lowered to midpt $2.35 (from top-end $2;45; guide $2.20-2.50) to reflect TRASMs down 1.0% (from -0.1%; guide down 0-2%) given broader industry signals of a softening low-end that Main Cabin (45% of mix) is not immune to, tied to competitive capacity & discounting that persists into Q3. Our 2024 EPS moves to $6.35 (from $6.65; guide $6-7) on slightly softer rev environment and cost absorption w/ CASM-ex +2.2% (from 1.8%; guide LSD)."

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