Raymond James raised the firm’s price target on Delta Air Lines to $60 from $56 and keeps a Strong Buy rating on the shares. Delta’s RASM outlook for Q4 disappointed, though seemingly on a greater-than-historical election-related impact with underlying trends before and after supportive of margin expansion in 2025, the analyst tells investors in a research note. While there is likely some conservatism in Delta’s guidance ahead of the November 20 investor day, the impact of Hurricane Milton is not reflected in the guide, the firm notes, adding that it continues to see unique structural advantages at Delta vs. legacy peers supporting a margin advantage.
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