Southwest price target lowered to $26 from $31 at BofA

BofA analyst Andrew Didora lowered the firm’s price target on Southwest (LUV) to $26 from $31 and keeps an Underperform rating on the shares. The firm maintained its Q1 loss per share estimate of (18c) but lowered its Q2-Q4 estimates to consider the domestic trends outlined by Delta (DAL) and Frontier (ULCC) last week. For Southwest, the firm lowered its Q2 total revenue growth forecast to down 0.5% from up 3.8% with unit revenues now seen down 2%, the analyst noted.