Keep an eye on Delta Air Lines (SYM: DAL).
After gapping from about $47 to a low of $43 on earnings and guidance, the airline stock is starting to pivot higher. From its last traded price of $44.95, we’d like to see it initially refill its bearish gap at $47. Helping, director Willie Chang just bought 10,000 shares of the DAL stock for about $439,000 on July 12.
Even better, CEO Ed Bastian is optimistic about the summer travel season, noting that “Summer’s progressing strongly and demand is quite healthy. Demand is growing faster internationally than it is domestically, and Delta is very well positioned to take advantage of that with its partners.”
Citi analysts also just raised their price target on DAL to $65 with a strong buy rating. They also clarified that Delta is Citigroup’s “preferred U.S. carrier.”
