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Investing.com – Delta Air Lines (NYSE:DAL) shares were up in Tuesday’s premarket in response to Jefferies upgrading the stock to a ‘buy’ with a target of $60.
The target price is 30% higher from the stock’s close on Monday.
According to Jefferies (NYSE:JEF) analyst Sheila Kahyaoglu, for the next phase of recovery, the focus shifts from domestic and leisure travel to corporate and international.
“DAL is well positioned to take share given a strong domestic footprint with SMBs and overweight exposure to Europe at 52% of 2019 int’l (international) ASMs (available seat miles) into the region (vs. 43% for network peers)…,” Kahyaoglu wrote in the note.
Jefferies’s 2023 EPS estimate for Delta is now a Street high of $7.60, 4% above 2019 EPS of $7.32.
