Airline operator Southwest Airlines Co. ( LUV ) on Monday caught a big downgrade from analysts at Deutsche Bank.
The firm said it cut its rating on LUV from "Buy" to "Hold" with a $9 price target. That target suggests a 17% upside to the stock's Friday closing price of $7.69. Deutsche noted that the company's acquisition of AirTran will incur higher costs.
Southwest Airlines shares were unchanged in premarket trading Monday.
The Bottom Line
Shares of Southwest Airlines ( LUV ) have a .23% dividend yield, based on Friday's closing stock price of $7.69. The stock has technical support in the $6.50 price area. If the shares can firm up, we see overhead resistance around the $9 price level.
Southwest Airlines Co. ( LUV ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 2.8 out of 5 stars.
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