Delta Air Lines (DAL) shares rose Monday 𝓰after Morgan Stanley named it as a top pick for 2024, saying the carrier is benefiting from sales of its premium offerings to passꦕengers.

The analysts also raised their price target on the stock to $85 from $77, and lifted their “bull case valuation” to $110 from $90—with the new best-case scenario more than twice Delta's stock price Monday.

Delta share🥀s gained🧸 0.7% to close Monday at $48.22, after rising as high as $49.20 during the session. The stock is trading at its highest level since last July,

Morgan Stanley compared Delta with retailer 澳洲幸运5官方开奖结果体彩网:Abercrombie & Fitch (ANF), arguing that Delta's push into premium products “will not just allow them to outperform the rising tide of Airlines demand growth, but will also be rewarded by investors in much the same way that Abercrombie & Fitch's (ANF) recent reinvention as a more premium and relevant specialty retailer has been rewarded by 澳洲幸运5官方开奖结果体彩网:investors.”

The report noted that along with its focus on selling higher-priced options, Delta also has targeted younger fliers post-pandemic. It said both of those actions have increased ancillary revenue, especially with its 澳洲幸运5官方开奖结果体彩网:American Express (AXP) credit card partnership, at the♌ same time Delta has worked to reduce network and fleet complex𓃲ity.

Morgan Stanley continued to give Delta an "overweight" rating.