{"id":42737,"date":"2023-07-31T17:36:22","date_gmt":"2023-07-31T21:36:22","guid":{"rendered":"https:\/\/ifintechworld.com\/uncategorized\/southwest-airlines-stock-gets-9th-downgrade-in-2023-as-bernstein-cuts-on-lack-of-confidence\/"},"modified":"2023-07-31T17:36:23","modified_gmt":"2023-07-31T21:36:23","slug":"southwest-airlines-stock-gets-9th-downgrade-in-2023-as-bernstein-cuts-on-lack-of-confidence","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=42737","title":{"rendered":"Southwest Airlines stock gets 9th downgrade in 2023 as Bernstein cuts on lack of confidence"},"content":{"rendered":"
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\u00a9 Reuters. Southwest Airlines (LUV) stock gets 9th downgrade in 2023 as Bernstein cuts on lack of confidence<\/span>
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Wall Street analysts have continued to adjust their ratings on Southwest Airlines (NYSE:) after a softer-than-expected earnings report.<\/p>\n

Today, Bernstein analysts downgraded the stock to Market Perform from Outperform with a price target of $32 per share, down from the prior $41. This marks the 4th downgrade since the EPS report and 9th since the start of 2023.<\/p>\n

\u201cWe have lost confidence in the earnings trajectory of LUV as margin recovery is lower than expected with no clear-cut exit out of near term headwind,\u201d the analysts said in a client note.<\/p>\n

The company\u2019s adjusted of $1.09 missed analyst expectations by 1%, while LUV guided down on every unit metric.<\/p>\n

\u201cWe had been expecting LUV to recover to 2019 levels of profitability with the rest of the group. That clearly isn’t happening, and we don’t have confidence in a near term acceleration. The company has been under accruing for labor costs and needs to keep pace with higher cost peers, despite not having the same exposure to premium revenue,\u201d they added.<\/p>\n

\u201cThe company has a sub-optimal fleet, which is leading to too much capacity growth and load factors that are lagging peers. Finally, the traditional network strength of Southwest (thick lines connecting a smaller number of dots on the map) is misaligned with market demand and will take some time to adapt to the new normal.\u201d<\/p>\n

Shares are down nearly 1% in pre-open Monday.<\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a9 Reuters. Southwest Airlines (LUV) stock gets 9th downgrade in 2023 as Bernstein cuts on lack of confidence Wall Street analysts have continued to adjust their ratings on Southwest Airlines (NYSE:) after a softer-than-expected earnings report. Today, Bernstein analysts downgraded the stock to Market Perform from Outperform with a price target of $32 per share, […]<\/p>\n","protected":false},"author":1,"featured_media":3401,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[1],"tags":[83],"class_list":["post-42737","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-uncategorized","tag-featured","post_format-post-format-video"],"yoast_head":"\nSouthwest Airlines stock gets 9th downgrade in 2023 as Bernstein cuts on lack of confidence | iFintechWorld<\/title>\n<meta name=\"description\" content=\"\u00a9 Reuters. 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