Get all your news in one place.
100’s of premium titles.
One app.
Start reading
Benzinga
Benzinga
Business
Akanksha Bakshi

Raymond James Turns Bullish On Southwest Airlines

  • Raymond James analyst Savanthi Syth upgraded Southwest Airlines Co (NYSE:LUVto Strong Buy from Outperform and lowered the price target to $55 (an upside of 56%) from $57.
  • The analyst states that the revised U.S. airline estimates reflect a stronger near-term revenue trend, stubbornly higher fuel prices, anticipated demand softening, and planned and expected capacity growth moderation.
  • RelatedRaymond James Shakes Up Ratings & Price Targets On Several US Airlines
  • The analyst views the recent pullback as an attractive entry point.
  • Syth mentions that Southwest will retain its position of strength, including a best-in-class balance sheet and cost-benefit from a very attractively priced fleet order.
  • She believes its relative position can improve as current initiatives should enable LUV to capture a more significant share of corporate revenue, including through up-sell.
  • Price Action: LUV shares are trading lower by 1.16% at $35.22 on the last check Thursday.
Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.