Southwest price target lowered to $38 from $40 at Morgan Stanley

Morgan Stanley lowered the firm’s price target on Southwest to $38 from $40 and keeps an Overweight rating on the shares. Southwest pulled its full year guidance weeks after issuing it due to aircraft delivery delays, the analyst tells investors in a research note. Focus will be on how much this will impact numbers and how much cost they can potentially pull down in the meanwhile, the firm says.