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Morgan Stanley Sticks to Its Buy Rating for Southwest Airlines (LUV)

Tipranks - Tipranks - Tue Jun 2, 7:24AM CDT

Morgan Stanley analyst Ravi Shanker maintained a Buy rating on Southwest Airlines today and set a price target of $60.00.

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According to TipRanks, Shanker is a 3-star analyst with an average return of 1.4% and a 50.10% success rate. Shanker covers the Industrials sector, focusing on stocks such as FedEx, Old Dominion Freight, and Delta Air Lines.

In addition to Morgan Stanley, Southwest Airlines also received a Buy from TD Cowen’s Thomas Fitzgerald CFA in a report issued on May 27. However, on May 28, Wells Fargo assigned a Hold rating to Southwest Airlines (NYSE: LUV).

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Based on Southwest Airlines’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $7.25 billion and a net profit of $227 million. In comparison, last year the company earned a revenue of $6.43 billion and had a GAAP net loss of $149 million

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