Shares of Southwest Airlines (NYSE:LUV) are down today after the firm asked the FAA to temporarily halt its departures due to intermittent technology issues. Despite hoping for a quick resolution, FlightAware data showed that thousands of flights were delayed by mid-morning, making up more than one-third of scheduled departures.
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However, the FAA’s Air Traffic Control System Command Center later reported that the full stop was canceled after about 16 minutes. The data connection issues were caused by a firewall failure which the airline was able to quickly resolve. As a result, the company is up and running again.
Despite Southwest’s recent string of troubles, which include the cancellations seen during Christmas, Wall Street analysts are still optimistic about LUV stock with a consensus price target of $42.58, which implies over 33% upside potential, as indicated by the graphic above.
