BofA lowered the firm’s price target on Southwest (LUV) to $30 from $34 and keeps a Neutral rating on the shares. The firm is adjusting its estimates on Southwest, Alaska Air (ALK) and JetBlue (JBLU) following Delta Air Lines’ (DAL) “generally positive domestic commentary,” recent company updates and increases in fuel. The firm says it thinks Southwest’s earnings report on April 25 will speak to continued pressure on unit revenues and notes that its full year EPS estimate of $1.56 is lowered from $1.70, which drives its price objective lower.
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