Dallas, Texas 12/13/2013 (FINANCIALSTRENDS) – Delta Air Lines, Inc. (NYSE:DAL) is an S&P 500 index fund which has a market cap of $24 billion. Over the past quarter the stock of this airline which connects the major airports of U.S has regained its lost mojo. The stock has scripted a refreshing 25.8 percent in its market valuation which has contributed majorly to the 164 percent increase in market value over the past 12 months.
The fact that the short lived federal government lock down did not cause too much of disruption in services or sales in addition to increasing passenger traffic across the country over the past few months. This has resulted in rating agencies like CRT Capital upgrading the stock of Delta Air Lines, Inc. (NYSE:DAL) to Buy. It has also upped the price target from $29 to $35 per share.
Strong Outlook For Full Year
Delta Air Lines, Inc. (NYSE:DAL) provided more good news to its investors. It has announced a huge increase in its profit forecast for the year. The firm has announced that it expects its profits for the year to go up by 70 percent and is expected to come in at $2.6 billion. It also hopes to bring down its debt levels thanks to the surging profits to more manageable limits of $9.6 billion from $11.7 billion which it had recorded in 2012. Even more good news awaits its customers. In the next year the firm hopes to bring in revenue of close to $40 billion.
Readers should also note that rating agency Moody’s has upped the ratings for this firm from stable to positive recently thanks to its increased operational efficiency. This holding company also operates other airline carriers like “United Continental Holdings, Inc. (UAL), JetBlue Airways Corporation (JBLU) and Southwest Airlines Co. (LUV)”.