(News Bulletin 247) – Jefferies reiterates its ‘buy’ recommendation and its target price of 45 dollars on Delta Airlines, the day after the resumption of the distribution of a quarterly dividend, a dividend which had been suspended in March 2020 against a background of Covid.
The broker points out that this quarterly dividend of $0.10 per share, which will be paid out in August by the airline, could represent an annualized cash consumption of $256 million.
Jefferies sees this as a positive sign that the group is comfortable with its balance sheet, and ‘also likely confidence in Delta’s previous goal of generating over $4 billion in free cash flow by 2024’.
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