UPDATE: Wolfe Research Upgrades Delta Air Lines (DAL) to Outperform
Wolfe Research analyst Hunter Keay upgraded Delta Air Lines (NYSE: DAL) from Underperform to Outperform.
The analyst comments "We expect DAL will regain its premium-oriented feel and that will manifest through a RASM premium relative to others. Though DAL is aiming to reduce costs, we don’t see them overcorrecting on that front. We also see a ramping prospect of DAL killing the refinery, though that isn’t a P&L mover it may help alleviate fuel cost/gal headwinds and it will free up the new CFO to focus on core things. Business travel may not come back fully, but the parts that do will come back to DAL, who is under-indexed to ultra-long haul and to the tech sector, which we believe helps."
Shares of Delta Air Lines closed at $44.57 yesterday.
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