Delta Air Lines stock could reach $100 by 2028, supported by less cyclical earnings and attractive valuation. The Wall Street analyst consensus target price for Delta Air Lines stock is $108, and the author believes this target, and more, is achievable, with $100 looking within reach on that basis. Management expects $3 billion to $4 billion in free cash flow in 2026, and applying a 20x multiple to the midpoint yields a share price of about $106. Delta absorbed a $1.9 billion year-over-year increase in adjusted fuel costs in the second quarter while still generating $1.56 billion in adjusted operating income, demonstrating resilience. With earnings-per-share guidance of $6.50 to $7.50, the forward price-to-earnings ratio is 11.5 to 13.2 times, making the stock attractive.
Delta Air Lines IncAnalyst sees stock reaching $100 by 2028 based on less cyclical earnings, attractive valuation, and strong free cash flow guidance.