- Raymond James drops Delta Air Lines (NYSE:DAL) to a Market Perform from Outperform on a call tied to valuation.
- The firm notes that Delta did not dilute shareholders during the current crisis like other airlines, however, it believes this relative advantage is mostly reflected in shares and sees more compelling valuation risk-reward in other airline stocks (see United upgrade details).
- Wall Street scorecard on Delta: 13 Buy-equivalent ratings, 9 Neutral-equivalent ratings and no Sell-equivalent ratings.
- Shares of Delta are 0.65% lower in premarket trading.