Delta stock price reaction ‘a little hard to understand,’ says Citi

Citi said Delta struck “a reasonable tone” on its Q4 results call and calls today’s stock price reaction “a little hard to understand for a carrier that might double its multi-billion-dollar FCF generation this year.” The firm, which also notes that Delta management highlighted macro factors and an expected increase in maintenance expense as factors in its “nuanced 2024 guidance commentary,” reiterates its Buy rating on Delta shares.