Delta Air Lines Analysts Boost Their Forecasts After Upbeat Q2 Results

Delta Air Lines Inc DAL reported better-than-expected second-quarter results.

Delta Air reported a second-quarter FY23 adjusted operating revenue growth of 19% year-over-year to $14.61 billion and operating revenue of $15.6 billion, beating the consensus of $14.46 billion. Adjusted EPS was $2.68 above the consensus of $2.39.

Delta Air Lines expects third-quarter revenue growth of 11% - 14%; EPS of $2.20 - $2.50 versus $2.05 estimate; and an adjusted operating margin in the mid-teens.

Delta Air shares fell 2.3% to trade at $46.53 on Friday.

These analysts made changes to their price targets on Delta Air Lines following earnings announcement.

• Raymond James raised the price target on Delta Air Lines from $57 to $58. Raymond James analyst Savanthi Syth maintained a Strong Buy rating.
• Morgan Stanley boosted the price target on Delta Air Lines from $70 to $77. Morgan Stanley analyst Ravi Shanker maintained an Overweight rating.

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