- Goldman Sachs analyst Catherine O'Brien downgraded Southwest Airlines Co LUV to Neutral from Buy and lowered the price target to $59 (implying an upside of 20%) from $63.
- The analyst expects greater cost pressure associated with the company's short-term labor ramp-up and IT investments than previously forecasted.
- O'Brien says this will weigh on Southwest's medium-term profitability, which will result in the shares underperforming versus other airlines.
- Also, read Southwest Inks 15-Year Agreement With Velocys For Sustainable Aviation Fuel.
- Price Action: LUV shares are trading lower by 0.77% at $48.75 during the premarket session on Tuesday.
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