Prediction: Delta Air Lines Stock Will Prove Wall Street Right and Hit $100 by 2028

Delta Air Lines’ outlook centers on whether the carrier can look less cyclical and reach $100 by 2028, following a Wall Street consensus view. Visible Alpha puts the analyst consensus target price at $108, implying 25% upside from a recent $86 share price. The article argues a higher figure is achievable, tying the case to expected free cash flow of $3 billion to $4 billion in 2026. Using a back-of-the-envelope framework with a 20x multiple for a mature industrial business, it estimates a valuation near a $70 billion market cap and roughly $106 per share. It also highlights Delta’s efforts to diversify income through premium cabin and ancillary revenue, loyalty programs, and co-branded credit card revenue, citing a $1.9 billion year-over-year increase in adjusted fuel costs absorbed in the second quarter while adjusted operating income declined by $501 million to $1.56 billion. The piece adds guidance expectations of $6.50 to $7.50 in EPS, corresponding to a forward P/E range of 11.5 to 13.2, framing $100 as reachable.