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Research Alert: CFRA Reiterates Sell Opinion On Shares Of Delta Air Lines, Inc.

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CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:

Oil prices are down 15% from May's $108 high on U.S.-Iran deal optimism. We maintain our Sell rating and raise our price target by $14 to $73. We lift our 2026 EPS estimate to $5.61 from $5.34 and 2027's to $6.89 from $5.98. Our target reflects 10.6x 2027 EPS, rolled forward from 11x 2026. Our estimates reflect lower fuel costs but remain below consensus on our view that oil/crack spreads may stay above 2024-2025 levels. We view DAL's cost structure favorably and believe the company can generate profits through this volatility, but current valuations and consensus estimates appear to reflect excessive optimism. The 2027 consensus of $8.08 implies full oil normalization and is 15% above our estimate. DAL's refinery vertical integration provides a partial hedge against crack spreads, and premium/corporate travel demand remains solid. However, with the stock pricing in a benign fuel environment, we see limited upside and maintain Sell. A key risk to our view is oil prices easing faster than expected.

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Research Alert: CFRA Raises Opinion On Shares Of United Airlines Holdings, Inc To Buy From Hold

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:Oil prices have retreated ~15% from May's $108 high. We upgrade UAL to Buy from Hold, raise our price target by $28 to $128, and lift our 2026 EPS to $11.07 from $11.02 and 2027's to $14.20 from $13.33. Our target reflects 9x 2027 EPS (from 7.5x), and our multiple expansion reflects increased confidence in UAL's ability to offset fuel headwinds through pricing and capacity optimization. Q1 business revenue rose 14% Y/Y, and UAL expects full fuel cost recapture by 4Q. We see opportunity for UAL to retain strong unit revenues post-spike. We favor UAL's industry-leading unit cost performance, led by fixed cost leverage across the largest fleet and geographic diversification. Domestic trends remain solid, with UAL noting no customer pushback on higher fares. Capacity is largely set for 2Q, with 3Q/4Q guided flat to +2% Y/Y depending on fuel. While oil remains a key variable, UAL's operational execution and pricing power position it favorably. Key risk is demand softening if macro conditions deteriorate.

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Research Alert: Greg Abel Executes His First Deal As Berkshire Ceo

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:Berkshire announced plans to acquire Taylor Morrison Home Corporation for $8.5B, paying $72.50 per share in cash, representing a 24% premium to TMHC's May 29 closing price of $58.50. The deal marks CEO Greg Abel's first major acquisition since succeeding Warren Buffett, expanding Berkshire's housing sector presence alongside existing subsidiary Clayton Homes. Abel noted plans to "unify our site-built homebuilding operations into a combined platform enabling us to deliver the dream of homeownership to more Americans." We maintain our Hold recommendation on the shares despite this strategic move. At current levels, the shares trade at about 22x our 2026 operating EPS estimate, roughly in line with their three-year average forward multiple of 23x. We believe Berkshire's mixed fundamentals and uncertainty regarding the significant management transition, coupled with the shares' adequate valuation, merit caution in the near term.

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Research Alert: CFRA Raises Price Target On Shares Of Dick's Sporting Goods

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We raise our 12-month price target by $52 to $275, based on 19.8x our FY 27 EPS estimate and above the company's three- and five-year average forward P/E multiples of 13.8x and 12.4x, respectively. We maintain our FY 27 and FY 28 EPS estimates of $13.92 and $15.64, respectively. We raise our price target because we believe investors will begin to re-rate shares as profitability improves at Foot Locker and EPS growth accelerates in FY 28 and FY 29. DKS net sales increased to $5.16B, up 63% from the prior year quarter, $100M above consensus, with the DICK'S Business contributing $3.38B and the newly acquired Foot Locker Business adding $1.79B. The company delivered non-GAAP EPS of $2.90, down from $3.37 in the prior yea rand $0.01 below consensus, reflecting the dilutive impact of shares issued for the Foot Locker acquisition and integration costs. The DICK'S Business demonstrated robust performance with comparable sales growth of 6.0%, while Foot Locker increased 0.6%. We raise our price target and remain bullish.

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