Southwest Airlines raises its target price to $40, receives a "Buy" rating from Argus, plans to reduce capacity in 2024 due to reduced Boeing 737-8 aircraft deliveries.
Southwest Airlines (LUV) raises its target price to $40 and receives an upgrade to a "Buy" rating from Argus, while facing challenges from reduced aircraft deliveries from Boeing. This results in Southwest Airlines planning to reduce capacity for 2024, halt most hiring, and reevaluate its financial outlook. Boeing advises Southwest to expect 46 737-8 aircraft deliveries in 2024, down from 79 previously anticipated, causing Southwest to adjust its first-quarter guidance accordingly.
March 12, 2024
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