Delta upgraded to Buy at Argus on strong leisure and recovery in business travel

Argus analyst John Staszak upgraded Delta Air Lines to Buy from Hold with a $39 price target. Demand for leisure travel is expected to remain strong while business travel should surpass 2019 levels, the analyst tells investors in a research note. Staszak also expects continued recovery in international traffic, helped by the elimination of most travel restrictions in Western Europe. The analyst is lifting his FY22 EPS view by 15c to $3.10 and his FY23 vids by 50c to $5.50