55/100BDelta Air Lines stock forecast 2025–2029What is an analyst price target? A price target is the price an analyst expects a stock to reach in 12 months. Arincen shows the average, high and low targets and the upside to the average.
Analysts' average 12-month price target for Delta Air Lines is 103.50, 19.8% above the current price of 86.41. Their targets range from 95.00 to 125.00.
Of the 17 firms that rated Delta Air Lines in the past 12 months, 17 rate it buy or strong buy, 0 hold and 0 sell or strong sell (each firm at its latest rating): a Strong buy consensus.
Analysts' 1-year price targets range from 95.00 to 125.00, with an average of 103.50.
| Buy | 17 | |
| Hold | 0 | |
| Sell | 0 |
12-month price target
| Highest target | 125.00 |
| Average target | 103.50 |
| Lowest target | 95.00 |
| Current price | 86.41 |
Delta Air Lines price target historyWhat is an analyst price target? A price target is the price an analyst expects a stock to reach in 12 months. Arincen shows the average, high and low targets and the upside to the average.
Have analysts recently raised or lowered their Delta Air Lines price target and rating?
How analysts rate Delta Air Lines, month by monthWhat is the analyst rating? The analyst rating sums up what the analysts covering a stock recommend, from strong buy to strong sell, by the share of them rating it a buy.
17 of 17 firms rate it buy now, against 14 of 14 in December 2025.
Each month: every firm at its latest rating from the 12 months before. Strong buys count as buys, strong sells as sells.
Delta Air Lines analyst upgrades, downgrades and price targets
The latest rating change came on 6 July 2026, when Raymond James downgraded Delta Air Lines from Strong Buy to Outperform. Its price target is 104.00, from 80.00. The most recent new target came from Seaport Global on 12 October 2026: 100.00.
| Date | Firm | Rating | Price target | Change | Price then |
|---|---|---|---|---|---|
| 12 Oct 2026 | Seaport Global | — | 88.00 → 100.00 | +13.6% | 80.78 |
| 12 Oct 2026 | Argus Research | — | 105.00 → 95.00 | -9.5% | 80.79 |
| 12 Oct 2026 | BMO Capital | Reiterated · Outperform | 100.00 → 105.00 | +5.0% | 81.08 |
| 12 Oct 2026 | UBS | Reiterated · Buy | 105.00 → 102.00 | -2.9% | 81.13 |
| 12 Oct 2026 | Susquehanna Christopher Stathoulopoulos | Reiterated · Positive | 100.00 → 95.00 | -5.0% | 82.17 |
| 7 Oct 2026 | Raymond James | — | 98.00 → 100.00 | +2.0% | 82.61 |
| 7 Oct 2026 | Susquehanna Christopher Stathoulopoulos | Reiterated · Positive | 108.00 → 100.00 | -7.4% | 83.66 |
| 7 Oct 2026 | Bernstein David Vernon | Reiterated · Outperform | 106.00 → 100.00 | -5.7% | 83.66 |
| 6 Oct 2026 | Wells Fargo | Reiterated · Overweight | 105.00 → 100.00 | -4.8% | 83.08 |
| 2 Oct 2026 | Cantor Fitzgerald Tom Fitzgerald | — | 112.00 → 101.00 | -9.8% | 84.13 |
| 28 Sept 2026 | BMO Capital Michael Goldie | Reiterated · Outperform | 80.00 → 100.00 | +25.0% | 84.94 |
| 24 Sept 2026 | UBS | Reiterated · Buy | 99.00 → 105.00 | +6.1% | 81.54 |
| 18 Sept 2026 | Redburn Partners | — | 105.00 | — | 79.43 |
| 11 Sept 2026 | Barclays | Reiterated · Overweight | 105.00 → 95.00 | -9.5% | 78.24 |
| 10 Sept 2026 | UBS Atul Maheswari | Reiterated · Buy | 112.00 → 99.00 | -11.6% | 78.75 |
| 24 Aug 2026 | Raymond James | Reiterated · Outperform | 104.00 → 98.00 | -5.8% | 82.87 |
| 14 Jul 2026 | Argus Research | — | 80.00 → 105.00 | +31.3% | 85.57 |
| 14 Jul 2026 | Cantor Fitzgerald Tom Fitzgerald | — | 112.00 | — | 86.19 |
| 13 Jul 2026 | UBS Atul Maheswari | Reiterated · Buy | 107.00 → 112.00 | +4.7% | 85.75 |
| 13 Jul 2026 | Bernstein | — | 93.00 → 106.00 | +14.0% | 87.39 |
| 10 Jul 2026 | Morgan Stanley Ravi Shanker | — | 115.00 → 125.00 | +8.7% | 87.36 |
| 10 Jul 2026 | Jefferies | Reiterated · Buy | 70.00 → 110.00 | +57.1% | 87.70 |
| 7 Jul 2026 | Susquehanna | Reiterated · Positive | 78.00 → 108.00 | +38.5% | 91.68 |
| 6 Jul 2026 | Morgan Stanley Ravi Shanker | Reiterated · Overweight | 105.00 → 115.00 | +9.5% | 93.66 |
| 6 Jul 2026 | Raymond James Savanthi Syth | Downgraded · Strong Buy → Outperform | 80.00 → 104.00 | +30.0% | 92.75 |
| 2 Jul 2026 | Goldman Sachs Catherine O'Brien | Reiterated · Buy | 77.00 → 116.00 | +50.6% | 93.06 |
| 30 Jun 2026 | Wells Fargo | Reiterated · Overweight | 87.00 → 105.00 | +20.7% | 93.17 |
| 25 Jun 2026 | Barclays Brandon Oglenski | Reiterated · Overweight | 85.00 → 105.00 | +23.5% | 90.65 |
| 23 Jun 2026 | UBS | Reiterated · Buy | 98.00 → 107.00 | +9.2% | 85.92 |
| 17 Jun 2026 | Bernstein David Vernon | Reiterated · Outperform | 88.00 → 93.00 | +5.7% | 83.14 |
| 1 Jun 2026 | Morgan Stanley | — | 105.00 | — | 79.84 |
| 26 May 2026 | UBS Atul Maheswari | Reiterated · Buy | 95.00 → 98.00 | +3.2% | 79.00 |
| 11 May 2026 | Bernstein | Reiterated · Outperform | 81.00 → 88.00 | +8.6% | 73.33 |
| 7 May 2026 | UBS | Reiterated · Buy | 86.00 → 95.00 | +10.5% | 73.34 |
| 17 Apr 2026 | Evercore ISI Duane Pfennigwerth | Reiterated · Outperform | 75.00 → 85.00 | +13.3% | 74.47 |
| 9 Apr 2026 | UBS | Reiterated · Buy | 87.00 → 86.00 | -1.1% | 67.83 |
| 9 Apr 2026 | Susquehanna | Reiterated · Positive | 85.00 → 78.00 | -8.2% | 67.83 |
| 14 Jan 2026 | Seaport Global | — | 88.00 | — | 67.89 |
| 14 Jan 2026 | UBS | Reiterated · Buy | 90.00 → 87.00 | -3.3% | 69.67 |
| 14 Jan 2026 | Argus Research John Staszak | — | 80.00 | — | 69.24 |
| 14 Jan 2026 | Bernstein David Vernon | — | 74.00 → 81.00 | +9.5% | 70.18 |
| 12 Jan 2026 | Barclays | Reiterated · Overweight | 65.00 → 85.00 | +30.8% | 72.31 |
| 9 Jan 2026 | Susquehanna Christopher Stathoulopoulos | Reiterated · Positive | 70.00 → 85.00 | +21.4% | 72.00 |
| 6 Jan 2026 | Goldman Sachs Catherine O'Brien | Reiterated · Buy | 67.00 → 77.00 | +14.9% | 71.82 |
| 19 Dec 2025 | Raymond James Savanthi Syth | — | 70.00 → 80.00 | +14.3% | 70.15 |
| 18 Dec 2025 | Wells Fargo | — | 87.00 | — | 69.72 |
| 12 Dec 2025 | UBS | — | 75.00 → 90.00 | +20.0% | 70.56 |
| 8 Dec 2025 | BMO Capital Michael Goldie | — | 80.00 | — | 67.22 |
Delta Air Lines EPS and revenue estimatesWhat are estimate revisions? Estimate revisions are the changes analysts make to their EPS and revenue forecasts for the years ahead. They show whether expectations are rising or falling.
Analysts expect Delta Air Lines's EPS to grow 8.5% a year until 2028.
Analysts expect Delta Air Lines's revenue to grow 5.6% a year until 2028. Over the last 5 years it grew 30.0% a year, and over the last 3 years 7.8%.
Revenue
EPS
Does Delta Air Lines beat earnings estimates?What is an earnings surprise? An earnings surprise is how far a company's reported EPS or revenue came above or below the analysts' average estimate, in percent.
On average, analysts' EPS estimate was 7.5% off the result, either way, and their revenue estimate 7.9%, over the last 12 quarters.
- EPS beats
- 85 / 133
- Revenue beats
- 87 / 118
- Average EPS surprise, last 12What is an earnings surprise? An earnings surprise is how far a company's reported EPS or revenue came above or below the analysts' average estimate, in percent.
- +6.8%
- Since
- January 1993
| Quarter | Report date | EPS estimate | Reported EPS | Surprise | Revenue estimate | Reported revenue | Surprise |
|---|---|---|---|---|---|---|---|
| Q3 FY2026 | 9 Oct 2026 | 1.77 | 1.72 | -2.8% | 17.64B | 20.20B | +14.5% |
| Q2 FY2026 | 9 Jul 2026 | 1.49 | 1.56 | +4.7% | 17.43B | 19.76B | +13.4% |
| Q4 FY2025 | 8 Apr 2026 | 0.58 | 0.64 | +10.3% | 14.05B | 14.20B | +1.1% |
| Q4 FY2025 | 13 Jan 2026 | 1.53 | 1.55 | +1.3% | 14.68B | 14.61B | -0.5% |
| Q3 FY2025 | 9 Oct 2025 | 1.57 | 1.71 | +8.9% | 15.09B | 16.67B | +10.5% |
| Q2 FY2025 | 10 Jul 2025 | 2.06 | 2.10 | +1.9% | 15.46B | 16.65B | +7.7% |
| Q4 FY2024 | 9 Apr 2025 | 0.38 | 0.46 | +20.9% | 12.98B | 14.04B | +8.2% |
| Q4 FY2024 | 10 Jan 2025 | 1.74 | 1.85 | +6.3% | 14.19B | 15.56B | +9.6% |
| Q3 FY2024 | 10 Oct 2024 | 1.52 | 1.50 | -1.3% | 14.65B | 15.68B | +7.0% |
| Q2 FY2024 | 11 Jul 2024 | 2.36 | 2.36 | 0.0% | 15.45B | 16.66B | +7.8% |
| Q1 FY2024 | 10 Apr 2024 | 0.37 | 0.45 | +21.6% | 12.51B | 13.75B | +9.9% |
| Q4 FY2023 | 12 Jan 2024 | 1.17 | 1.28 | +9.4% | 13.52B | 14.22B | +5.2% |
Delta Air Lines stock price 2025–2029: scenariosHow are the stock price scenarios calculated? Bear, base and bull prices for the years ahead: the analysts' EPS estimates times the lowest, average and highest P/E of the stock today and at its last five year ends, or of its peers.
If Delta Air Lines's earnings keep growing at the 3.9% a year analysts expect to FY2027, it would earn about 8.00 a share in FY2029. At the P/E it has traded at over the last five years (5.6 to 17.1) that is 44.64 to 137.16 a share, or 94.10 at its average P/E of 11.8. This is arithmetic on the analysts' estimates, not a prediction.
| Fiscal year | EPS | Bear | Base | Bull |
|---|---|---|---|---|
| FY2025 | 5.80 | 32.37 | 68.24 | 99.46 |
| FY2026 | 5.40 | 30.12 | 63.50 | 92.55 |
| FY2027 | 7.42 | 41.38 | 87.24 | 127.15 |
| FY2028 (extrapolated) | 7.70 | 42.98 | 90.60 | 132.06 |
| FY2029 (extrapolated) | 8.00 | 44.64 | 94.10 | 137.16 |
Each year's EPS is the analysts' consensus to FY2027; the years after grow 3.9% a year (the analysts' growth, at most 15%). Bear, base and bull apply the lowest, average and highest P/E of today and the last five fiscal year ends, leaving out any above 60, the mark of a year of collapsed earnings (5.6, 11.8, 17.1).
Is Delta Air Lines stock undervalued or overvalued?How does Arincen work out a stock's fair value? Fair value is our estimate of a share's price at the P/E the company usually trades at, with a low to high range around it.
Delta Air Lines's P/E of 17.1 is above the middle of its 5-year range (5.3 to 332.6, median 9.4). Analysts do not expect faster growth than in recent years, so it is expensive compared with its own history. Fair value is not a reliable guide for Delta Air Lines: analysts expect EPS growth of 8.5% a year against 54.9% before, so its past P/E no longer describes it. Its forward P/E, on the consensus for FY2026, is 16.0.
- Price to earnings ratio (TTM)What is the P/E ratio? The P/E ratio divides a share's price by its earnings per share over the last year: what you pay for each dollar of profit.
- 17.14
- Five-year median P/EWhat is the P/E ratio? The P/E ratio divides a share's price by its earnings per share over the last year: what you pay for each dollar of profit.
- 9.39
- Five-year P/E range
- 5.3 – 332.6
- Forward P/E (FY2026)What is the forward P/E ratio? Forward P/E divides a share's price by the earnings per share analysts expect in the coming year, rather than last year's actual earnings.
- 16.01
- PEG ratioWhat is the PEG ratio? The PEG ratio divides the P/E by the yearly earnings growth analysts expect, to show how much you pay for each point of growth.
- 4.44
- To the average targetWhat is an analyst price target? A price target is the price an analyst expects a stock to reach in 12 months. Arincen shows the average, high and low targets and the upside to the average.
- +19.8%
Most undervalued US stocksHow does Arincen work out a stock's fair value? Fair value is our estimate of a share's price at the P/E the company usually trades at, with a low to high range around it.
| Stock | Price | Fair value | Upside |
|---|---|---|---|
| 35.850 | 71.4258Price 35.85193 | +99.2% | |
| 29.050 | 56.2634Price 29.0596 | +93.7% | |
| 241.000 | 464.49205Price 241.00627 | +92.7% | |
| 123.590 | 237.24178Price 123.59297 | +92.0% | |
| 161.400 | 305.52159Price 161.40396 | +89.3% | |
| 157.460 | 297.58169Price 157.46471 | +89.0% | |
| 217.560 | 405.38304Price 217.56507 | +86.3% |
Furthest below the fair value on each stock's page, updated every day.