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Southwest higher after Goldman Sachs flips from bear to bull

Jun. 29, 2020 9:49 AM ETSouthwest Airlines Co. (LUV) StockLUVBy: Clark Schultz, SA News Editor8 Comments
  • Southwest Airlines (NYSE:LUV) is up 1.65% in early trading to lead the airline sector after landing a two-notch upgrade from Goldman Sachs.
  • "We now expect traffic for the carriers in our coverage universe to recover to 2019 levels in 2023 as opposed to 2022," updates GS analyst Catherine O’Brien.
  • "We expect its primarily domestic network and industry-leading balance sheet to drive a relatively faster and stronger recovery from the COVID-19-driven downturn in demand for air travel," she adds.
  • Goldman Sachs lifts LUV all the way to a Buy rating after having it slotted at Sell and assigns a new price target of $47.
  • Southwest is started to separate itself from peers on a share price comparison.

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