DAL Stock Rises Overnight: Analysts Back Delta Ahead Of Q3 Earnings Despite Fuel Cost Pressures

• Raymond James raised Delta’s price target to $100, citing strong demand, pricing power, and revenue management. 
• Despite higher fuel costs, Spirit Airlines’ exit could reduce competition and help airlines protect profits. 
• Analysts forecast Delta’s Q3 revenue at $19.39 billion and earnings at $2.25 per share. 

Delta Air Lines (DAL) stock rose overnight as Raymond James raised its price target to $100, while Susquehanna maintained a ‘Positive’ rating despite a target cut. Analysts see pricing discipline and improving airline supply-demand dynamics supporting profit, with investors watching fuel costs ahead of third-quarter (Q3) earnings. 

Delta Air Lines stock inched up 0.5% overnight ahead of Friday’s earnings. 

Raymond James Sees Further Upside For Delta 

Raymond James raised its price target on Delta to $100 from $98 and maintained an ‘Outperform’ rating, implying 22% upside from the stock’s last close. The firm noted that elevated jet fuel costs are weighing on earnings expectations across U.S. airlines. Strong passenger demand and pricing power are helping offset some of that pressure, while disciplined revenue management is supporting industry profitability.

The analyst said airlines are focusing on charging higher fares rather than filling every seat, which helps them make more money per ticket, even if some seats are empty. Spirit Airlines’ exit has also reduced competition, which could boost other airlines' profits. 

Susquehanna Highlights Demand And Capacity

Susquehanna analyst Christopher Stathoulopoulos lowered Delta’s price target from $105 to $100 but kept a Positive rating. Ahead of Q3 earnings, the firm expects passenger demand and airline capacity to become more balanced, helping the industry. 

However, recent Transportation Security Administration passenger screening figures offer an important gauge of travel activity. Susquehanna noted that recent Q4 screening trends remain below the pace of low-single-digit growth in domestic airline capacity. Investors will be watching how effectively carriers translate passenger traffic into revenue per available seat, a key measure of operating performance.

According to Fiscal.ai data, analysts estimate Delta Air Lines’ Q3 revenue at $19.39 billion and earnings at $2.25 per share. 

DAL Stock: Retail View 

On Stocktwits, retail sentiment around the stock remained in ‘bullish’ territory. 

One user pointed to an airspace monopoly and hoped the company had a “good trader” who had hedged against rising oil prices. 

Another user said, “There may not be much of an immediate move on the stock, it appears there are undercurrents going both ways ... the expected Money maker move is barely 3.44 bucks ... Last ER, the move was only 1.81%, and less than 0.5% in the following 14 days, including the day after the Earnings, so barely changed ... and this dynamic has been the norm since Q3 of 2025.”

DAL stock has gained over 18% year-to-date. 

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