On July 7, Delta Air Lines declined 3.05% in regular trading, trading at $88.96/share, with turnover of $365 million. The decline came amid broad-based weakness across the airline sector.

On the news front, Raymond James downgraded Delta Air Lines from Strong Buy to Outperform on July 6, while simultaneously raising its price target to $104 from $80. Although the higher target implies upside from current levels, the rating downgrade signaled a more cautious near-term stance. Separately, IATA slashed its global airline net profit forecast to $23 billion — roughly half its prior outlook — citing sharply higher fuel costs tied to Middle East conflict disruptions. Jet fuel prices are now expected to average $152 per barrel, nearly 70% above year-ago levels, with the industry fuel bill projected at $350 billion.

The broader airline sector declined in sympathy, with JetBlue Airways falling 4.46%, United Airlines down 2.80%, American Airlines dropping 2.59%, and Southwest Airlines losing 2.36%. Delta is scheduled to report quarterly earnings on July 10, with consensus EPS expectations of $1.46.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)