Why Delta Air Lines Shares Are Taking Off Today

Delta Air Lines Inc DAL is trading higher Thursday after the company announced better-than-expected fourth-quarter financial results and issued guidance. 

Delta reported quarterly earnings of 22 cents per share, which beat the estimate of 13 cents per share. The company reported quarterly revenue of $9.47 billion, which beat the estimate of $9.14 billion. 

Delta said it expects first-quarter revenue to recover to 72% to 76% of 2019 levels. The company expects first-quarter capacity to return to 83% to 85% of 2019 levels. 

"2021 was a year like no other for Delta, with significant progress in our recovery supported by growing brand preference, enabling us to be the only major U.S. airline to deliver profitability across the second half of the year," said Ed Bastian, CEO of Delta.

Susquehanna analyst Christopher Stathoulopoulos upgraded Delta from a Neutral rating to a Positive rating and raised the price target from $45 to $50.

See Also: Why Virgin Galactic Shares Are Falling Today

DAL Price Action: Delta has traded as low as $33.40 and as high as $52.28 over a 52-week period.

The stock was up 3.67% at $42.09 at time of publication.

Photo: courtesy of Delta.