Delta Air Lines Soars on Amazon Satellite Deal Despite Analyst Target Trims
Delta Air Lines (DAL) shares climbed 2.1% to $67.91 Thursday as the carrier secured a high-profile deal with Amazon to equip 500 aircraft with Leo satellite connectivity by 2028. The partnership underscores Delta's push to enhance inflight broadband capabilities amid rising passenger expectations.
Wall Street remains cautiously optimistic, maintaining a "Moderate Buy" consensus with a $78.84 average price target. TD Cowen and Susquehanna trimmed targets to $76 and $81 respectively but kept Buy ratings, while Jefferies and Goldman Sachs raised targets to $78 and $80. The adjustments reflect divergent views on fuel cost pressures versus operational improvements.
Insider selling activity totaled 620,550 shares (~$44.1M) over 90 days, including dispositions by the CEO and EVP. Such moves often attract scrutiny but don't necessarily signal weakening fundamentals.
