Bernstein Downgrades Southwest Airlines to Underperform, Lowers Price Target to $24
Portfolio Pulse from Benzinga Newsdesk
Bernstein analyst David Vernon has downgraded Southwest Airlines (NYSE:LUV) from Market Perform to Underperform and reduced the price target from $29 to $24, indicating a bearish outlook on the company's stock.
January 08, 2024 | 10:12 am
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Southwest Airlines has been downgraded by Bernstein from Market Perform to Underperform, with a price target cut from $29 to $24, suggesting a potential decline in the stock's value.
Analyst downgrades typically have a direct negative impact on the stock price in the short term as they reflect a change in the analyst's view on the company's future performance. The reduction in the price target further emphasizes the analyst's bearish stance, which could lead to a decrease in investor confidence and a potential drop in the stock price.
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