"Analyzing Southwest Airlines' Recent Performance and Future Outlook"

Jefferies upgraded Southwest Airlines to Hold from Underperform and raised their price target to $28 from $20, stating that the stock is now fairly valued after the recent selloff caused by Southwest's reduced capacity plans and reevaluation of full-year guidance due to delayed Boeing 737 Max plane deliveries. The lack of deliveries from Boeing could potentially benefit Southwest by freeing up cash, but potential pressures on US consumer spending and a mixed picture for airlines continue to impact the industry.