Does the downgrade mean the stock will decline?

No, the new rating 'Outperform' remains positive, but it is less bullish than 'Strong Buy', reflecting caution after the recent rally.

When will Delta Air Lines report Q2 earnings?

The exact date was not provided in the report, but it is expected soon.

Raymond James Downgrades Delta Air Lines Ahead of Earnings

Raymond James raised its price target for Delta Air Lines but downgraded the stock from Strong Buy to Outperform, reflecting cautious optimism ahead of the company's earnings report.

July 7, 2026

2 min read

Source: Stocktwits

Raymond James has adjusted its rating on Delta Air Lines (NYSE: DAL) ahead of the company's Q2 earnings release, raising the price target but downgrading the stock from Strong Buy to Outperform.

Rating Change

Previous Rating: Strong Buy
New Rating: Outperform
New Price Target: Not disclosed in the report

Analyst's Rationale

The analyst at Raymond James believes that Delta's stock has already priced in significant gains, reducing the potential upside. The downgrade comes as a conservative move before the earnings announcement.

Context

Delta's stock has been on a strong rally recently, prompting some analysts to reassess their outlook. The new rating remains positive (Outperform) but is less bullish than before.

What to Make of It

The downgrade does not signal a bearish view but rather a cautious stance after the recent run-up. Investors are now focused on the upcoming earnings report for clearer signals.

Frequently Asked Questions

The new price target was not disclosed in the report.

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This article was rewritten in Wrqti's editorial style based on information from the original source above. Content is informational only — not investment advice.