Seeking Alpha

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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