Evercore ISI analyst Duane Pfenningwerth upgraded Southwest to Outperform from In Line with a price target of $35, up from $30. The firm cites the “long-awaited” transition to capacity discipline, new revenue initiatives to be outlined at the company’s upcoming investor day on September 26 – including assigned seating and premium economy – as well as strong underlying fleet value. While attractive underlying fleet value is not new, the company may shine a light on this embedded value via transactions, the analyst tells investors.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on LUV:
- Pressure Mounts on Southwest Airlines as Elliott Crosses 10% Threshold
- Elliott now owns enough of Southwest to call special meeting, Reuters says
- Southwest (NYSE:LUV) Faces Pressure from Activist Investor for Major Shakeup
- Boeing’s Starliner to return without astronauts: Morning Buzz
- Elliott lays out framework for change at Southwest in letter to shareholders
Questions or Comments about the article? Write to editor@tipranks.com