Delta Air Lines stock holds firm after TD Cowen cut
Published on 08/25/2026 at 10:02 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS
Delta Air Lines (ISIN US2473617023) stock is anchored by a fresh TD Cowen call, with the broker cutting its target to $105 from $112 while keeping a Buy rating and pointing to $82.95 trading around the note. The carrier's June quarter still showed $17.67 billion in revenue and $1.56 in adjusted earnings per share, both cited in recent market coverage on August 24, 2026.
Analyst reset
The same coverage says the revised target implies 26.59% upside from the cited price, which gives investors a simple reference point for how much optimism remains in the airline setup. Another recent note put Delta's current-year EPS view at 6.54, close to the company's own full-year adjusted EPS guide of $6.50 to $7.50.
That spread matters because it leaves the earnings bar tight, not loose. The stock has also been tracked at 19.66% year to date and 44.02% over the past year in separate recent market commentary, making the valuation debate more relevant than a single session move.
Guidance still matters
Delta's latest reported quarter also included an 8.8% adjusted operating margin and a 15% dividend increase referenced in recent reporting on the carrier's second-quarter update. Full-year free cash flow guidance remains at $3 billion to $4 billion, which keeps cash generation in the foreground for the rest of 2026.
For investors, the key question is whether premium revenue and cost control can keep the forecast intact as fuel and capacity conditions shift. The airline's recent commentary on value, service and premium mix suggests management is still leaning on that higher-yield strategy.
Delta's premium mix
Delta's product story now runs through premium cabins, loyalty revenue and American Express-related income, which recent coverage said helped diversify the June-quarter mix. That same framing supports the view that the airline is less dependent on basic fare competition than it was in earlier cycles.
Shares and valuation
Delta Air Lines trades on the NYSE under DAL and carries a market cap of $54.19 billion as of August 22, 2026. The stock was last quoted at $82.95, and one recent market snapshot placed the 52-week range between $43.90 and $69.98.
More on Delta Air Lines stock
Company: Delta Air Lines, Inc. ISIN: US2473617023 Ticker: DAL Exchange: NYSE Sector / Industry: Industrials / Passenger Airlines Index membership: S&P 500
Data points
Revenue: $17.67 billion in the June quarter of 2026. Adjusted EPS: $1.56 in the June quarter of 2026. Full-year adjusted EPS guidance: $6.50 to $7.50 for 2026. Free cash flow guidance: $3 billion to $4 billion for 2026.
