Delta Air Lines shares are up about 2.3% on Friday after BofA analyst Andrew Didora upgraded the stock from neutral to buy.

Didora raised his price estimate for the stock by $2, to $48 per share.

The upgrade comes a day after the business announced that 200 daily cancellations are expected on Thursday and Friday owing to extreme weather and manpower shortages caused by the Omicron variant.Is Delta Air Lines stock a good buy in July 2021? | Invezz

"The challenges that this winter weather will bring to these major markets, combined with the ongoing impact of the omicron variant, are expected to result in approximately 200 daily cancellations between Delta and Delta Connection out of over 4,000 daily departures across our system on Thursday and Friday," Delta said on Thursday.

However, the analyst believes that Delta Airlines' current low stock price is a fantastic opportunity to buy.

"When sentiment is low, it's usually a good time to buy airline stocks," Didora said.

He went on to state that he preferred Delta to American Airlines and United Airlines because of their stronger balance sheets, lower valuations, and tighter capacity management.