In a report published Wednesday, Cowen and Company analyst Helane Becker reiterated an Outperform rating and $31.00 price target on Delta Air Lines DAL.
In the report, Cowen and Company noted, “We are taking this opportunity to reiterate our Outperform rating on the shares of Delta Air Lines and would be a buyer on the current weakness. We believe the stock remains a compelling investment as Delta is currently trading at 8.5x our 2014 EPS estimate, below United Continental at 9.5x. Delta is in the middle of a $500MM share repurchase program, has upside to its modest quarterly dividend of $0.06/share, and is targeting net debt of $7 Bn.”
Delta Air Lines closed on Tuesday at $28.05.
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