Southwest price target raised to $34 from $26 at Barclays

Barclays analyst Brandon Oglenski raised the firm’s price target on Southwest (LUV) to $34 from $26 and keeps an Equal Weight rating on the shares as part of a Q2 preview for the airline group. The firm says higher jet fuel prices coupled with continued weak U.S. leisure demand are likely to keep airline earnings outlooks “subdued.” However, capacity reductions to Q4 would likely be welcomed by investors, the analyst tells investors in a research note.