- Barclays analyst Brandon Oglenski upgraded Southwest Airlines Co LUV to Overweight from Equal Weight and raised the price target to $75, from $64, implying an upside of 37.96%.
- Oglenski says that while the recovery has taken longer than expected, "bluer skies ahead for airlines."
- He further adds, with "ample support" from U.S. taxpayers via cash grants and some low-cost loans, airline balance sheets have been kept in relatively healthy shape.
- Southwest affords long-term investors a "fortress balance sheet, favorable order book with Boeing and a historically profitable business model," says Oglenski, favoring low cost and low fare airlines.
- Also Read: JPMorgan Raises Price Target For Frontier Group, Southwest, Alaska Air; Downgrades Spirit Airlines
- Price Action: LUV shares are trading higher by 2.06% at $55.47 during the premarket session on Monday.
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