Imperial Capital raises price target on Delta


Imperial Capital becomes the second firm (JPMorgan) this week to issue upbeat commentary on Delta (DAL).

Analyst Bob McAdoo cuts his Q3 and Q4 EPS estimates by "about a dime" each due to a slight increase in H2 fuel-price assumptions.

Nevertheless, McAdoo says DAL's addition to the S&P 500 is the main catalyst and "should drive increased demand in shares [causing] the stock ...to command a higher earnings multiple versus the peer group."

Price target is hiked to $26 (from $23), representing an 11.5% upside from Wednesday's close.

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