Delta Air Lines downgraded to In Line from Outperform at Evercore ISI

Evercore ISI analyst Duane Pfennigwerth downgraded Delta Air Lines to In Line from Outperform with a price target of $40, down from $50. Delta’s investor day "catalyst has now happened" and the "optimistic" 2023 outlook provided yesterday raises the bar into an uncertain 2023 "before it has even started," Pfennigwerth tells investors.In light of slowing economic growth, Delta’s year-over-year top-line growth guidance of 15%-20% "feels full," Pfennigwerth added.