Southwest price target raised to $31 from $27 at Bernstein

Bernstein raised the firm’s price target on Southwest (LUV) to $31 from $27 and keeps a Market Perform rating on the shares. The firm says the U.S. airlines had strong Q1 prints on already lowered Street expectations. As bookings showed some stabilization exiting Q1, and optimism over a trade deal “soothes macro concerns, the stocks are in a better but still not great place,” the analyst tells investors in a research note. Bernstein increased price targets on the “higher-quality names” to reflect expected benefits from less macro concern and associated demand fallout.