UBS cuts PT on Delta Air Lines to $87

UBS cuts PT on Delta Air Lines DAL.N to $87 from $90, which is still a 25.4% upside to the stock's last close

Brokerage cites lower expected capacity of Available Seat Miles (ASMs) and slightly higher fuel assumptions

ASM measures how many seats an airline flies multiplied by how many miles those seats fly

Adds, fuel has crept up in the last few days, adding pressure to the model and reducing upside

DAL on Tuesday said it expects FY26 profit between $6.50 and $7.50 per share, midpoint of which is largely below analysts' estimates of $7.25 apiece, according to data compiled by LSEG

25 of 27 brokerages rate the stock "buy" or "higher", 2 "hold"; their median PT is $81.50

Including session's move, DAL up 3.3% in the last 12 months