Ahead of Delta Airlines Earnings, Here's What Barchart Data Says Comes Next for DAL Stock

Delta Air Lines (DAL) shares remain in focus ahead of the flagship air carrier’s fiscal Q3 earnings scheduled to be reported before the market opens on Oct. 9. Consensus is for the Atlanta-headquartered airline to record $1.93 in earnings per share (EPS) for its third quarter, representing nearly 13% growth on a year-over-year basis. 

Delta Air Lines stock is currently down meaningfully from its year-to-date high, but it remains up about 20% versus the start of 2026. 

Delta Air Lines Stock Seen Rallying After Q3 Earnings

Options traders are currently betting more aggressively on DAL calls than puts, which is typically an indicator of positive sentiment. 

A put-to-call ratio of less than 1.00x is broadly viewed as bullish, whereas the one on Delta Air Lines contracts is currently set at 0.45x only. 

Barchart’s data pegs the upper price on those contracts at $87.74, signaling DAL shares could rally as much as 5.54% through the end of next week. 

That said, Delta Air Lines is currently trading at a forward price-to-earnings (P/E) ratio of roughly 14x, which makes it relatively more expensive to own than key rivals, including United (UAL) and Southwest Airlines (LUV). 

How High Could DAL Shares Really Fly in 2026?

UBS analysts also remain bullish as ever on Delta Air Lines shares heading into the firm’s fiscal Q3 earnings on Thursday morning. 

In a research note dated Oct. 7, they reiterated a “Buy” rating on the air carrier, with a bullish $105 price target that suggests potential upside of nearly 30% from current levels. 

While UBS expects Q3 earnings of $1.70 per share, slightly below the consensus due to lingering jet fuel cost pressures, it maintains that DAL’s industry-leading operational execution, premium seat demand, and high-margin corporate travel volume will offset near-term headwinds. 

A 1.04% dividend yield makes the airline stock even more attractive as a long-term holding. 

What’s the Consensus Rating on Delta Air Lines?

Other Wall Street firms agree with UBS’s bullish view on Delta Air Lines heading into its Q3 print.

The consensus rating on DAL stock sits at “Strong Buy” currently, with the mean price target of $102 indicating potential for a more than 20% rally from here. 

On the date of publication, Wajeeh Khan did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.