Southwest (LUV) PT Maintained at $85 at Stifel on 8K Filing Restating Financials
Stifel maintained its price target on Southwest (NYSE: LUV) at $85.00 while maintaining a Buy rating, following the company's 8K filling release and cautious commentary on the demand environment.
Analyst Jospeh DeNardi notes the company released 8-K filings restating financials due to the new revenue recognition and accounting changes, with management suggesting passenger yields are under pressure due to competitive fare environment, timing of spring break traffic and the accelerated retirement of the legacy fleet. LUV management also pointed to strong demand for the remainder of the month, supported by favorable trends into the Easter travel period.