Market Overview

JP Morgan Reduces Southwest Airlines Estimates


JP Morgan is reducing its estimates on shares of Southwest Airlines Co. (NYSE: LUV).

“LUV June RASM of 5% (excluding AAI) implies 2Q RASM of 6.7% vs. our 8.9% estimate. Holding other inputs constant (as LUV does not provide late-quarter cost guidance), this reduces our 2QE EPS from $0.26 to $0.20 vs. consensus of $0.22,” JP Morgan writes.

“Accordingly, our FY11E EPS moves from $0.67 to $0.61 vs. consensus of $0.69. No change to our price target or Neutral rating.”

Southwest Airlines closed Wednesday at $10.88.


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Posted-In: JP Morgan Southwest AirlinesAnalyst Ratings

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