Goldman Sachs Upgrades Delta Air Lines (DAL) to Buy
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Price: $89.35 -2.15%
Rating Summary:
30 Buy, 4 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
30 Buy, 4 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Goldman Sachs upgraded Delta Air Lines (NYSE: DAL) from Sell to Buy with a price target of $15.90 (from $8.70).
The firm expects the valuation discount versus peers to narrow driven by increased
investor confidence "on the back of three years of decent profits with healthy earnings prospects over the next few years barring any exogenous event."
"We expect traffic to pick up initially with international travel spending growth during 1H13 and domestic travel to rebound mid-2013 on improving corporate travel. DAL enjoys comparatively better exposure to these two potential drivers versus low-cost carriers LUV and JBLU, and appears to be largely past merger integration which may still challenge UAL. Thus, we think DAL is the best positioned airline for 2013 outperformance."
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 $13.11 yesterday.
The firm expects the valuation discount versus peers to narrow driven by increased
investor confidence "on the back of three years of decent profits with healthy earnings prospects over the next few years barring any exogenous event."
"We expect traffic to pick up initially with international travel spending growth during 1H13 and domestic travel to rebound mid-2013 on improving corporate travel. DAL enjoys comparatively better exposure to these two potential drivers versus low-cost carriers LUV and JBLU, and appears to be largely past merger integration which may still challenge UAL. Thus, we think DAL is the best positioned airline for 2013 outperformance."
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 $13.11 yesterday.
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