2023-03-07 09:52:25 ET
Evercore ISI turned bullish on Delta Air Lines ( NYSE: DAL ) on Tuesday with an upgrade to an Outperform rating from in-Line.
The firm noted Delta shares have significantly lagged legacy peers liked United Airlines ( UAL ) and American Airlines ( AAL ) this year.
The firm also raised its 2023 EPS estimate on Delta by a notable 17%. The recent pilot contract ratification is noted to lowers Delta’s cost outlook uncertainty in comparison to peers.
Looking ahead, the planned June investor day at its Atlanta headquarters is seen as a good opportunity for the airline company to refine financial targets and segments such as Tech Ops.
Shares of Delta Air Lines ( DAL ) rose 3.30% in early trading on Tuesday. The airline stock is up more than 21% on a year-to-date look.
See all the valuation metrics on Delta Air Lines.
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Delta Air Lines flies higher after Evercore ISI turns bullish