Delta Air Lines price target lowered to $77 from $87 at Citi

Citi analyst John Godyn lowered the firm’s price target on Delta Air Lines (DAL) to $77 from $87 and keeps a Buy rating on the shares. The firm, which is updating estimates for higher fuel prices, sees downside risk to Q1, Q2 and 2026 estimates at nearly all airlines in its coverage. However, the analyst adds that “downside to estimates does not necessitate downside to stocks across the board” as it argues that the fuel shock is likely to keep driving a “fuel wedge” that drives meaningful relative outperformance at some airlines.