Southwest resumed with a Neutral at Goldman Sachs

Goldman Sachs analyst Catherine O’Brien resumed coverage of Southwest with a Neutral rating and $41 price target. While positive on the backdrop for airlines, the analyst says the economic outlook is uncertain. In this environment, she favors stocks with "idiosyncratic earnings drivers, relatively more recovery tailwinds remaining, or characteristics that reduce downside risk." For Southwest, O’Brien remains cautious on the cost impact and execution risk of the large technology updates behind several of its initiatives in the shorter-term.