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Morgan Stanley analyst Ravi Shanker lowered Delta Air Lines, Inc (NYSE: DAL) price target to (implying an upside of 50%) from $67 and maintained an Overweight rating on the shares after the company's Q3 results came in better than expected.
The stock was impacted by fuel and cost headwind commentary about Q4.
Shanker, who contends that "taking the pain now for gain later is the right move," noted that Delta management's commentary on holiday season travel, a corporate recovery, and structural cost savings were "strong."
Cowen analyst Helane Becker raised Delta Air Line's price target to $54 (implying an upside of 31%) from $53 and maintained a Market Perform rating on the shares.
Becker believes revenue growth won't enable the airline to recover the costs, so margins will continue to be squeezed.
She says that demand is not the issue; costs are the issue and are expected to increase until the route network reaches pre-pandemic levels.
Price Action: DAL shares are trading higher by 0.43% at $41.2 on the last check Thursday.
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