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LUV

Southwest

$52.92

0.11 (0.21%)

08:33
04/25/19
04/25
08:33
04/25/19
08:33

Southwest expects Q2 ASMs to decrease 2%-3%

The company said, "The Company ended first quarter 2019 with 753 aircraft in its fleet. This reflects the first quarter delivery of three leased 737 MAX 8 aircraft. All 34 of the Company's 737 MAX 8 aircraft were grounded as of March 13, 2019, to comply with an FAA emergency order issued for all U.S. airlines to ground all 737 MAX aircraft. While the Company continues to expect to end 2019 with approximately 775 aircraft in its fleet based on the current aircraft delivery schedule and net of expected 737-700 retirements, prolonged grounding of the MAX aircraft could impact the Company's delivery and retirement schedule. Additional information regarding the Company's aircraft delivery schedule is included in the accompanying tables. Based on flight schedule adjustments through August 5th, and subject to the duration of the MAX groundings, the Company now expects its second quarter 2019 ASMs to decrease in the 2 to 3 percent range, and annual 2019 ASMs to increase in the 2 to 3 percent range, both year-over-year."

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    Nov

LUV Southwest
$52.92

0.11 (0.21%)

03/28/19
FBCO
03/28/19
NO CHANGE
Target $50
FBCO
Neutral
Southwest price target lowered to $50 from $56 at Credit Suisse
Credit Suisse analyst Jose Caiado De Sousa lowered his price target for Southwest to $50 from $56 following the company's Q1 guidance cut, which was widely expected by investors. Given the negative near-term fundamental outlook for this otherwise "high quality" airline stock, the analyst reiterates a Neutral rating as he awaits cost execution in the second half of the year, as well as greater detail regarding Southwest's unspecified revenue initiatives for 2020.
04/02/19
SPHN
04/02/19
NO CHANGE
Target $63
SPHN
Overweight
Airlines needed some good news, and Delta delivered, says Stephens
With investor sentiment on the airline space negative, the group was in need of some good news and Delta Air Lines delivered a positive surprise this morning, Stephens analyst Jack Atkins tells investors in a research note. The airline pointed Q1 RASM growth to the upper-end of its initial guidance range, lowered its Q1 CASM excluding fuel expectation and raised its Q1 earnings guidance range, says the analyst. Atkins finds it encouraging that Delta noted underlying passenger demand remains solid and that the business market led the way during the quarter. Further, the company announced an extension of its credit card partnership with American Express (AXP), which is expected to double the revenue contribution to $7B by 2023 versus 2018 levels, he notes. Atkins reiterates an Overweight rating on Delta with a $63 price target. The stock in midday trading is up 7% to $55.64. Other names in the airline space include Alaska Air (ALK), American Airlines (AAL), JetBlue (JBLU), Southwest (LUV), Spirit Airlines (SAVE) and United Continental (UAL).
04/08/19
RAJA
04/08/19
DOWNGRADE
RAJA
Market Perform
Southwest downgraded to Market Perform from Outperform at Raymond James
04/08/19
04/08/19
DOWNGRADE

Market Perform
Southwest downgraded to Market Perform at Raymond James on 737 MAX grounding
As previously reported, Raymond James analyst Savanthi Syth downgraded Southwest Airlines (LUV) to Market Perform from Outperform and pulled her $60 price target citing expectations of near term earnings risk due to the grounding of Boeing's (BA) 737 MAX fleet. The analyst expects that risk to be extended into the summer months while also noting additional pressure on the airline in 2019 coming from the mechanics' union dispute. Longer term, Syth maintains a positive outlook on the company given its "ability to maintain its superior margins, free cash flow profile, and low leverage while capitalizing on technology catch-up and international growth opportunities."

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