David Gerstenhaber’s ‘relatively easy’ stock pick

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Delta Air Lines stock continues to appear headed higher despite an already strong run-up so far this year, Argonaut Capital Management's CEO, David Gerstenhaber, said Tuesday.

"I think you can talk about Delta as a relatively easy pick. The airlines have consolidated quite nicely," he said. "They're now oligopolistic, and they simply are not adding the capacity that was the case in the past. And I think that you have upside in Delta as a result."

The carrier's stock is up nearly 60 percent year to date, at around $43 per share in midday trading Tuesday.

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On CNBC's "Halftime Report," Gerstenhaber also said that he was positive on American Airlines and Canadian Pacific, though not on speculation about an acquisition of CSX.