UBS analyst Thomas Wadewitz raised the firm’s price target on Southwest (LUV) to $29 from $27 and keeps a Sell rating on the shares. UBS says the bar is high heading into the reporting season and that the most likely case is that airlines will report strong Q4 with potential for earnings to be towards the upper-end or even higher than their mid-quarter updated ranges, the analyst tells investors in a research note. The firm believes those that report RASM upside to consensus are likely to be rewarded this reporting season as it will provide greater confidence on the achievability of 2025 estimates. There is limited room for any disappointments, UBS adds.
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