UPDATE: Argus Upgrades Southwest (LUV) to Buy
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Argus analyst John Staszak upgraded Southwest (NYSE: LUV) from Hold to Buy with a price target of $68.00.
The analyst comments "We are raising our rating on Southwest Airlines Co. (NYSE: LUV) to BUY from HOLD and setting a price target of $68. We view Southwest as one of the best low-cost carriers, with a record of stable earnings prior to the pandemic and a strong management team. We also believe that LUV, with more than $14 billion in liquidity and an emphasis on leisure travelers, is the airline best positioned to emerge strongly from the coronavirus crisis. 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."
Shares of Southwest closed at $59.00 yesterday.
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