Raymond James cuts PT on Southwest Airlines, trims earnings forecast on energy volatility

ReutersMar 31, 2026 3:13 PM

Raymond James cuts price target on Southwest Airlines LUV.N to $45 from $55, reiterates "outperform" rating

New PT still represents a 24% upside to stock's last close

Brokerage says that current fuel volatility clouds near-term earnings visibility; cuts LUV's 2026 earnings per share forecast to $2.95 from $4.30

Sees higher execution risk and near-term uncertainty, especially around LUV's rollout of products such as assigned seating and extra-legroom seats

Median PT of 26 brokerages covering the stock is $45 - data compiled by LSEG

Including session's moves, LUV down 12.3% YTD

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