DAL Stock Price Forecast: DAL Stock is up in trading at $31.47 as of 11:26 AM EDT.
Delta Air Lines (NYSE:DAL) was given a market performance rating, and then Cowen changed that rating to an outperform rating. Helane Becker, an analyst, says that as pandemic restrictions are lifted, business and international travel will keep going up, giving Delta strong tailwinds.
She pointed out that as the balance shifts, income will increase because international and business air travel costs are greater than typical domestic fares.
Becker also said that the big airline’s loyalty program was a big reason why it made money.
“We think loyalty programs will make a big difference in this environment because people are likely to use their airline cards a lot to try to get their miles redeemed, especially for trips abroad,” the report said.
After raising its estimates for 2022 EPS and 2023 EPS to $2.84 and $7.00, respectively, Cowen set a price objective of $54 for DAL. Delta’s stock went up 2.01% before the market opened on Friday, after going up 4.01% after earnings on Thursday.
DAL Stock Price Forecast Shows Optimism
Delta Air Lines (NYSE:DAL) and other airline stocks went up early on Friday. This was because Delta missed profit expectations on Thursday, but posted record revenue and optimistic predictions. This gave the airline industry hope before more earnings next week.
Prior to Friday’s market session, airline shares of Delta increased by 3.7%. It traded at 30.37 on Thursday as it closed up 3.9%. Early Friday, United Airlines (NASDAQ:UAL) rose 2.3%, while American Airlines (NASDAQ:AAL) rose 2%. AAL increased 2.8% to $13.05 on Thursday. Alaska Air Group (NYSE:ALK) rose 1.7% to $41.90, and United Airlines increased its value by 3.4% to $35.40.
On Friday, Helane Becker, an analyst at Cowen (NASDAQ:COWN), changed Delta from Market Perform to Outperform, but the price target stayed at $54. Also, Becker raised Delta’s earnings per share estimates for 2022 and 2023 to $2.84 and $7.00, respectively.
As revenue is generally rising over expectations, according to the 2023 consensus, Becker said on Friday, “We feel it is likely to come up.”
Featured Image- Unsplash @ maswdl95
Author Jowi Kwasu 
