Delta Air Lines (DAL) has been one of the most successful airlines of the past decade (a very successful period for airlines). It has gone from being a heavily-indebted airline struggling to integrate a big merger to being a consistent industry leader in terms of operational performance and profitability.
However, after surging between late 2012 and the end of 2014, Delta Air Lines stock has struggled to make headway. The stock has suffered severe multiple compression and currently trades for about 8 times earnings.
This suggests that investors are skeptical