Citi on Delta Air Lines (DAL): 'A Solid Print, In A Quarter That Was Far From Easy'
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Citi analyst Stephen Trent reiterated a Buy rating and $72.00 price target on Delta Air Lines (NYSE: DAL)
The analyst comments "
Delta’s adj 1Q’25 EPS came in at $0.46, vs. Factset consensus of $0.38. Overall, these results show a carrier with a resilient business model, in light of significant uncertainties around demand and the global tariff controversy. Delta generated $1.3B in FCF during the quarter, and sees a double-digit EBIT margin for 2Q. Against this backdrop, it seems unfair to push management for suspending its full-year guide, without some basic clarity on the broad political- and economic environment. Citi maintains a Buy rating on the shares. Implications -- During the quarter, the carrier saw premium cabin revenue up 7%, vs. main cabin revenue growth down 1% over the same period. Loyalty program and travel-related services revenues rose 11% and 4%, respectively, while Delta continues to see solid co-branded card remuneration. Separately, Delta expects its non-fuel unit cost growth to be limited in the low-single-digits through the rest of the year."
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Shares of Delta Air Lines closed at $35.88 yesterday.