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Jefferies upgrades Delta to buy, says international and business travel will boost stock

A Delta Air Lines Airbus A350-900 plane takes off from Sydney Airport in Sydney, Australia, October 28, 2020.
Loren Elliott | Reuters

It's time for Delta Air Lines' stock to start climbing once again as the next stage of the post-pandemic recovery kicks into gear, according to investment firm Jefferies.

Like other airline stocks, Delta had a strong run that started in late 2020 as Covid vaccines were approved. However, shares appear to have stalled and have actually lost ground over the past three months.

Analyst Sheila Kahyaoglu upgraded the stock to buy from hold, saying in a note to clients on Tuesday that Delta was the best-positioned airline to benefit from the evolving economic recovery.

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