Delta Air Lines price target raised to $51 from $45 at Wolfe Research

Wolfe Research raised the firm’s price target on Delta Air Lines to $51 from $45 and keeps an Outperform rating on the shares. The firm refreshed its Delta model ahead of the company’s Q4 earnings report and 2024 guidance on Friday. The analyst likes Delta’s “lower-end valuation and higher-end free cash flow.” Wolfe continues to believe the company’s free cash flow and improving balance sheet argue for a higher valuation versus its legacy peers.