Delta Air Lines (DAL) cut its Q1 revenue outlook by 400-500 basis points as the macroeconomic uncertainty "unfolds in real time," BofA Securities said in a note Monday.
"We knew February was soft following our American Airlines (AAL) headquarters visit in late February, but this cut was deeper than expected," the firm said.
BofA said it expects other airlines to revise near-term outlooks.
The firm said it lowered its earnings-per-share forecast for Delta Air Lines to $0.40 for the Q1, the midpoint of the company's new outlook, and to $7.20 from $7.70 for 2025.
BofA cut its price objective on the company to $65 from $78 and maintained its buy rating.
Shares of Delta Air Lines were over 7% in recent Tuesday trading.
Price: 46.27, Change: -4.06, Percent Change: -8.07