Southwest price target raised to $35 from $28 at JPMorgan

JPMorgan raised the firm’s price target on Southwest (LUV) to $35 from $28 and keeps an Overweight rating on the shares. The firm introduced 2027 estimates and established year-end 2026 price targets for the U.S. airlines. JPMorgan’s estimates for both 2026 and 2027 are above consensus. It believes industry profits “continue to accrue in the hands of the few” while the path back to profitability “for the impaired” will remain challenged.