UBS assumed coverage of Delta Air Lines (DAL) with a Buy rating and $90 price target up from $75. Delta’s ability to expand profit margins over the next few years is being underappreciated by the market, the analyst tells investors in a research note. Delta’s competitive positioning is meaningfully improved vs. history and its balance sheet leverage is also moving lower rapidly, and the airline should generate strong free cash flow of $4B+ over the next few years, the firm says.
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