BUZZ-Raymond James cuts PT on Southwest Airlines, trims earnings forecast on energy volatility

Reuters03-31
BUZZ-Raymond James cuts PT on Southwest Airlines, trims earnings forecast on energy volatility

** Raymond James cuts price target on Southwest Airlines LUV.N to $45 from $55, reiterates "outperform" rating

** New PT still represents a 24% upside to stock's last close

** Brokerage says that current fuel volatility clouds near-term earnings visibility; cuts LUV's 2026 earnings per share forecast to $2.95 from $4.30

** Sees higher execution risk and near-term uncertainty, especially around LUV's rollout of products such as assigned seating and extra-legroom seats

** Median PT of 26 brokerages covering the stock is $45 - data compiled by LSEG

** Including session's moves, LUV down 12.3% YTD

(Reporting by Megavarshini G. Somasundaram in Bengaluru)

((Megavarshini.SomasundaramGnanasundari@thomsonreuters.com))

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