UPDATE: Bank of America Reiterates Buy Rating, Raises PT on Southwest Airlines Co. on Shift to 2015-Based Valuation

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In a report published Friday, Bank of America analyst Glenn D. Engel reiterated a Buy rating on
Southwest Airlines Co.LUV
, and raised the price target from $26.00 to $28.00. In the report, Bank of America noted, “For Southwest, we raise our 2014E slightly to $1.40 from $1.35 on slightly lower fuel assumptions for the balance of 2014. We are raising price objectives for both Southwest ($28 from $26) and United ($33.50 from $28) as we shift to 2015-based valuation. As long as the economy appears to be moving forward, supply remains contained, and oil prices more likely to go down than up, investors appear willing to look beyond even near-term earnings misses. Southwest remains our top pick.” Southwest Airlines Co. closed on Thursday at $23.60.
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Posted In: Analyst ColorPrice TargetAnalyst RatingsAirlinesBank of AmericaGlenn D. EngelIndustrials
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