Shares of Delta Air Lines Inc. moved higher on Tuesday after Evercore analysts upgraded the stock.
So far this year, shares of Delta Air Lines Inc. have lagged those of United Airlines Inc. by around 22 percentage points and American Airlines Inc. by 10 percentage points. But that’s partly why Evercore analysts are upgrading the stock.
Those analysts, led by Duane Pfennigwerth, upgraded Delta DAL to their version of buy from hold, citing several reasons investors could get more clarity on Delta’s financials up ahead. Within the airline industry overall, Pfennigwerth said travel demand remains solid and that fuel prices are “behaving.” China’s reopening, he said, was a good thing.Delta received the upgrade after a year in which thinly staffed airlines struggled to meet a rebound in travel demand. Southwest Airlines Co. LUV suffered thousands of flight cancellations over the winter due to aging, overwhelmed scheduling technology.
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