Southwest price target raised to $48 from $40 at Barclays

Barclays analyst Brandon Oglenski raised the firm’s price target on Southwest Airlines to $48 from $40 and keeps an Overweight rating on the shares. Southwest’s upcoming analyst meeting will likely provide some insight on the health of air travel demand heading into 2023 as well as a revised fleet and cost inflation outlook, Oglenski tells investors in a research note. Boeing 737 MAX deliveries are well below prior expectations in 2022, but a ramp next year could drive meaningful growth for Southwest, says the analyst.