Southwest price target raised to $24 from $20 at Jefferies

Jefferies analyst Sheila Kahyaoglu raised the firm’s price target on Southwest to $24 from $20 and keeps an Underperform rating on the shares. September “may be the tipping point for airline normalcy,” with U.S. domestic schedules rationalized by 1-2 points, driving the Q3 RASM raises, the analyst tells investors in an an airlines group Q3 preview note. The firm sees this setting up the U.S. airlines for sequential improvement in Q4 and into 2025, the analyst added.