After Southwest provided lower than expected RASM guidance, Stifel analyst Joseph DiNardi says that the guidance was hurt by Hurricane Matthew and the timing of the upcoming holidays. He says that the weakness in the stock was overdone, as the shares' longer term outlook " is still compelling enough to stay interested," The analyst keeps a $50 price target and Buy rating on the stock.
Says saw nice acceleration in managed business revenues in Q1. Says continued streak of "solid" operations performance in Q1. Says eliminating service in Syracuse, Cozumel, Bellingham, and Houston. Says reducing flights in Atlanta and Chicago. Comments taken from Q1 earnings conference call.
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