Jefferies Lowers PT on Delta Air Lines (DAL) Stock

Delta Air Lines, Inc. (NYSE:DAL) is one of the Most Undervalued Stocks to Buy According to Analysts. On March 12, Jefferies reduced its price objective on the company’s stock to $72 from $84, while keeping a “Buy” rating, as reported by The Fly. As per the analyst, the jet fuel prices are up ~50% compared to the January average when the company initiated its guidance, and the airline estimates have been updated.

On average, the firm increased its Q1 estimates of fuel cost by ~14% and Q2 by ~30%. That being said, considering the volatility, the firm expects that H2 fuel prices will revert to the pre-conflict levels.

In a separate release, Evercore ISI analyst Duane Pfennigwerth reduced its price objective on Delta Air Lines, Inc. (NYSE:DAL)’s stock to $80 from $85, while keeping an “Outperform” rating. Notably, the firm has been adjusting its estimates for the broader airlines in its coverage as a result of increased assumed fuel costs, offset marginally by the improved revenue.

Delta Air Lines, Inc. (NYSE:DAL) is one of the largest airlines in the United States and is headquartered in Atlanta, Georgia. Founded in 1925, the airline operates a global network of flights and maintains nine major hub airports across its route system.

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