As previously reported, Jefferies analyst Sheila Kahyaoglu downgraded Southwest (LUV) to Underperform from Hold with a price target of $28, down from $30, as the firm lowered Q1 and Q2 estimates. The firm sees March exit rates pressuring summer as corporate and consumer sentiment are seen remaining soft on “swelling macro uncertainty,” the analyst tells investors. The firm expects American (AAL), Southwest and Air Canada (ACDVF) must cut their 2025 outlooks and that Delta (DAL) likely will too, the analyst added in a note on the North American airlines group.
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