Imperial Capital Initiates Delta Airlines with OUTPERFORM

Analysts at Imperial Capital initiates coverage of Delta Air Lines (NYSE : DAL) with an OUTPERFORM rating. The 12-month target price is set to $21. In a research note published today, the analysts mention that DAL’s target price is based on around 7x from the  EPS of $2.83 against the consensus of $2.39. However, less expensive fuel and tight capacity raised the optimism, hence the consensus estimates were too low, the analysts add.

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