Barclays raised the firm’s price target on Southwest to $32 from $27 and keeps an Equal Weight rating on the shares. It appears a contentious proxy fight is likely at Southwest, the analyst tells investors in a research note. The firm says the recent management plans are a “step in the right direction,” but external influence at the company could likely help accelerate a strategic overhaul to match industry innovation. Southwest shareholders will now decide on the future strategic direction of the company, adds Barclays.
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