NEW YORK (TheStreet) -- Shares of Delta Air Lines (DAL) are climbing, higher by 1.34% to $47.04 in midday trading Friday, adding to its gain after airline stocks hit their highest levels in almost 14 years yesterday, following higher earnings estimates for six U.S. carriers by JPMorgan Chase analysts, Bloomberg reports.
Analysts at the firm said they believe shares of the airlines are undervalued and increased its price targets.
JPMorgan Chase raised its price target on Delta shares to $73 from $62, with an "overweight" rating.
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The firm noted that investors haven't boosted airline stocks commensurately with the "precipitous" decline in fuel prices despite higher domestic fares.
Separately, TheStreet Ratings team rates DELTA AIR LINES INC as a Buy with a ratings score of A. TheStreet Ratings Team has this to say about their recommendation:
"We rate DELTA AIR LINES INC (DAL) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its solid stock price performance, revenue growth, reasonable valuation levels, good cash flow from operations and largely solid financial position with reasonable debt levels by most measures. We feel these strengths outweigh the fact that the company has had sub par growth in net income."