UPDATE: Argus Downgrades Southwest (LUV) to Hold

(Updated - August 15, 2022 7:32 AM EDT)

Argus analyst John Staszak downgraded Southwest (NYSE: LUV) from Buy to Hold.

The analyst comments "We are lowering our rating on Southwest Airlines Co. (NYSE: LUV) to HOLD from BUY. We expect costs to remain high in 2022 and look for CASM to increase at a mid-teens pace. Although a revenue recovery is underway, we do not expect the shares to move higher until it becomes clear to investors that costs have stabilized. We are maintaining our long-term BUY rating based on the company’s record of above-peer-average revenue growth, driven by its simple fare structure and reputation for generally good customer service."

For an analyst ratings summary and ratings history on Southwest click here. For more ratings news on Southwest click here.

Shares of Southwest closed at $39.46 yesterday.

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