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Delta Is Worth $65 Now, Says Sterne Agee CRT

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Delta Air Lines Inc. New NYSE:DAL - Delta Is Worth $65 Now, Says Sterne Agee CRT

  • The boost seeks to reflect higher estimates after the company filed an 8K with the SEC on Friday.
  • Shares of Delta are up more than 4 percent on Monday trading.
  • After Delta Air Lines disclosed its September 2015 financial and operating results on Friday, analysts Michael Derchin and Adam Hackel boosted their EBITDAR forecast for 2016 from $9.5 billion to $9.9 billion. Consequently, they raised their price target to $65 to reflect a 6x '16 EBITDAR multiple.

    The experts noted that Delta trades at 4.4x estimated '16 TEV/EBITDAR, below the low end of the firm’s 4.5x–6.5x range for network...