Delta Air Lines price target raised to $65 from $55 at Citi

Citi raised the firm’s price target on Delta Air Lines to $65 from $55 and keeps a Buy rating on the shares. Delta and United Airlines’ year-to-date share price outperformance versus the sector and the S&P 500 Index still does not appear to have eliminated the relative mispricing in the sector, the analyst tells investors in a research note. The firm says that with U.S. network airline earnings wallet share having increased materially versus 2018 and 2019, Delta, Alaska Air, American and especially United still trade below their pre-pandemic price-to-earnings ratios, while Southwest trades well above such levels. Citi continues to identify Delta as its preferred U.S. carrier and keeps United on its Focus List.