Southwest price target raised to $55 from $50 at Morgan Stanley

Morgan Stanley raised the firm’s price target on Southwest (LUV) to $55 from $50 and keeps an Overweight rating on the shares following Q4 results. The airline definitively cast away the shackles of strategy and execution risk that have bedeviled the story for much of the post-pandemic era by sounding like the pre-pandemic Southwest that was the benchmark for the industry, Morgan Stanley told investors in a research note. The firm added that the market has noticed, but there is “a lot more” to come.