BMO Capital Raises Delta Air Lines (DAL) Price Target to $105

BMO Capital has reiterated its Outperform rating on Delta Air Lines with a new price target of $105, a 38.98% upside from the current price.

By TradeTexts Research Desk · Published Oct 16, 2026, 2:08 PM EDT

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BMO Capital raised its price target on Delta Air Lines, Inc. ($DAL) to $105 from $100 on October 12, 2026, and rates the stock "Outperform".

Since the rating, $DAL is down 5.7% to date (from the $79.89 close on Oct 12, 2026).

DAL Delta Air Lines, Inc.

$75.37 +10.30% year to date

Daily close · Oct 16, 2026

Key Points

On October 12, 2026, BMO Capital reiterated its Outperform rating on Delta Air Lines (DAL) with a price target of $105, up from $100.
BMO Capital's $105 price target implies 38.98% upside from Delta Air Lines, Inc.'s ($DAL) current $75.55 share price.
As of October 16, 2026, DAL traded recently around $75.55, significantly below the new target and 21% below its 52-week high of $95.68.
Delta Air Lines has a market cap of about $51.4 billion and a P/E ratio of 15.6, with a revenue growth of 21.1% year-over-year.

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BMO Capital has reiterated its Outperform rating on Delta Air Lines, Inc. (DAL) on October 12, 2026, setting a new price target of $105. This is an increase from their prior target of $100. As of October 16, 2026, Delta shares traded recently around $75.55, which is below the new target and about 21% lower than its 52-week high of $95.68.

Other Institutional Activity in Delta Air Lines

Several other institutional investors have also been active with Delta Air Lines. Berkshire Hathaway, Inc. grew its holdings by 17,511,680 shares, ending with 57,320,000 shares worth about $4.3 billion. Blackrock Inc. increased its stake with an additional 979,609 shares, totaling 45,106,139 shares valued at approximately $3.4 billion. FMR, LLC added 5,682,496 shares, bringing its total to 33,187,319 shares worth about $2.5 billion.

Delta Air Lines, Inc. Stock Down 1.2%

Delta Air Lines shares are currently trading below both their 50-day and 200-day moving averages, indicating a weaker short- and long-term trend. The recent price of $75.55 is also 25.2% below the mean analyst price target of $101.07. This gap suggests that analysts see significant upside potential from current levels.

12-month forecast

$DAL price target

Delta Air Lines, Inc. daily closes and this analyst's $105 target. Not advice.

Recent Earnings

Delta Air Lines reported trailing twelve-month revenue of approximately $71.8 billion and earnings per share (EPS) of $5.01. The company has shown strong revenue growth of 21.1% year-over-year, and its next earnings report is scheduled for January 13, 2027.

Earnings drift grade

Outlook vs expectations on the last report — not price action.

B- 72/100

Reported Apr 8, 2026

Forward outlook
4 target raises vs 1 cuts.
EPS & revenue
EPS beat estimates by 10.7%. Revenue beat estimates by 12.0%.
Profit surprise
EBITDA missed by 57 percent. Operating income missed sharply.
Pre-earnings setup
Bar was high, analysts already very bullish.
Analyst signal
4 target raises, 1 target cut.
Earnings quality
Gross margin up 7.2 points. Operating margin down 0.9 points. Positive free cash flow.

Earnings Call Summary

Delta delivered strong March quarter results with 15.9 billion dollars in revenue and 64 cents in earnings per share, beating expectations. Demand remains strong across corporate and leisure travel. However, jet fuel prices nearly doubled from earlier in the year, adding more than two billion dollars in fuel costs for the second quarter. The airline is reducing capacity in unprofitable flying and working to recapture forty to fifty percent of fuel price increases through higher ticket prices and fees.

Guidance Delta expects second quarter revenue to grow in the low teens, flat capacity versus last year. They plan an operating margin of six to eight percent and earnings of one dollar to one dollar fifty per share. Jet fuel prices are expected to average four dollars thirty per gallon, double last year's cost.

Slightly positive report. The quarter was acceptable, but the forward setup is not strong.

Insider Buying and Selling at Delta Air Lines, Inc.

Recent insider transactions show that several officers sold shares. Alain Bellemare, an officer, sold 35,000 shares at $92.72 each on August 4, 2026, totaling about $3.2 million. Another officer, Steven M. Sear, sold 40,460 shares at $93.55 each on August 5, 2026, amounting to around $3.8 million. These transactions occurred before the recent analyst updates.

Analysts Set New Price Targets

On October 12, 2026, UBS maintained a Buy rating on Delta Air Lines with a price target of $102, while BMO Capital reiterated its Outperform rating with a target of $105. Susquehanna also maintained its Positive rating but lowered its target to $95. The consensus among analysts is a strong buy, with a mean target of $101.07 based on 24 opinions.

About Delta Air Lines

Delta Air Lines, Inc. provides scheduled air transportation for passengers and cargo in the U.S. and internationally. It operates through two main segments: Airline and Refinery. The company is headquartered in Atlanta, Georgia, and employs around 100,000 people. Delta is well-positioned in the airline industry, and the recent analyst updates reflect confidence in its growth potential.

Bottom Line

Investors should keep an eye on Delta Air Lines' next earnings report on January 13, 2027, and watch for further analyst updates. BMO Capital's reiterated rating and price target suggest there may be significant upside potential from current trading levels.