MKM Partners Remains Bullish On This Airlines, Cuts Price Target By 8%

December 1, 2021 11:58 AM | 1 min read | Make a Comment

MKM Partners analyst Conor Cunningham lowered the price target on Southwest Airlines Co LUV to $56 (an upside of 25%) from $61 but maintained a Buy rating on the shares ahead of its investor day next week.
Cunningham mentions the stock has fallen about 6% this month amid recent concerns regarding the omicron variant. Still, the management's 2022 focus will likely fall on addressing the ongoing pandemic-related headwinds around network, hiring, and productivity, and these will ultimately become tailwinds.
Recently, Raymond James lowered its price target to $60 (an upside of 33%) from $62 and maintained an Outperform rating on the shares.
Price Action: LUV shares are trading higher by 1.22% at $44.94 on the last check Wednesday.