Come Fly With Me (DAL, AMR, UAUA, FAA, JPM)
March 10, 2010 11:17 AM
Airlines are surging once again today on positive news from Delta Air Lines (NYSE: DAL) and an analyst upgrade on the sector.
Delta appeared at a JP Morgan (NYSE: JPM) Conference on Transportation Tuesday and raised its operating margin forecast for the current quarter. The company also said that corporate travel volume was up 34% in February versus last year.
UBS raised its price targets on seven airlines based on positive channel checks and management commentary on revenues. American Airlines (NYSE: AMR) and UAL Corp. (NASDAQ: UAUA) were among those airlines that saw their price targets raised.
The Arca Airline Index (NYSE: FAA) is up $1.04, or 3.05%, to $35.12 today. It earlier touched a 52-week high of $35.29. Delta shares are up 3.01% and shares of American Airlines and United are up 5.27% and 4.07%, respectively.
