Morgan Stanley lowered the firm’s price target on Delta Air Lines (DAL) to $88 from $95 and keeps an Overweight rating on the shares. The market is pricing in a “sky is falling” scenario for airline stocks, but Delta’s update showed that trends are “only” stalling, which “should be a sigh of relief for now,” the analyst tells investors in a post-earnings note. Delta is likely to be viewed as a high-quality, long-term winner, despite the fact that the outlook “remains very uncertain,” the analyst added.
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