As previously reported, Jefferies upgraded Delta Air Lines (DAL) to Buy from Hold with a price target of $70, up from $62. The Q3 revenue outlook raise to 2%-4% from 0%-4% gives the firm “enough confidence” in the topline for Q4 and 2026 that margin expansion is coming despite the short-term lack of earnings drop through in Q3, the analyst tells investors. The firm notes that its EPS estimates for Q4 and 2025 are above consensus.
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