General Lee
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CHICAGO, May 17 (Reuters) - Shares of Delta Air Lines (DAL.N: Quote, Profile , Research) gained more than 7 percent on Thursday after Lehman Brother initiated coverage and set a price target of $26.50.
Delta stock was up 6.6 percent at $19.55 in afternoon trade.
Lehman said in a research note that Delta achieved need cost reductions and capacity cuts during its time in bankruptcy.
"You're seeing a pop because of that," said Morningstar analyst Brian Nelson.
Delta shares have fallen more than 10 percent since their return to the New York Stock Exchange on May 3. Airline stocks in general have been battered by a weakening domestic revenue outlook.
© Reuters 2007. All Rights Reserved.
Bye Bye--General Lee
Delta stock was up 6.6 percent at $19.55 in afternoon trade.
Lehman said in a research note that Delta achieved need cost reductions and capacity cuts during its time in bankruptcy.
"You're seeing a pop because of that," said Morningstar analyst Brian Nelson.
Delta shares have fallen more than 10 percent since their return to the New York Stock Exchange on May 3. Airline stocks in general have been battered by a weakening domestic revenue outlook.
© Reuters 2007. All Rights Reserved.
Bye Bye--General Lee
