Here's Why Delta Air Lines Stock Soared in March
Delta Air Lines (NYSE: DAL) stock flew higher by 13.2% in March, according to data provided by S&P Global Market Intelligence. The move comes after management updated first-quarter trading, and Wall Street analysts upgraded the stock with aggressive price targets.
The first-quarter update came up at the J.P. Morgan Industrial Conference in mid-March and an associated Securities and Exchange Commission (SEC) filing. In the presentation and the filing, management said it expects first-quarter revenue growth to be in the top half of the 3%-6% guidance range given on the fourth-quarter earnings call in mid-January.
However, the quarter wasn't free of turbulence, as CEO Ed Bastian noted during the presentation that fuel prices were about $0.15 per gallon higher than when management gave guidance. When all is said and done, Delta still expects to deliver earnings per share in the range of $0.25 to $0.50 for the first quarter.
Source Fool.com
