Benzinga | Dec 1, 2021 11:58AM EST

MKM Partners Remains Bullish On This Airlines, Cuts Price Target By 8%

* MKM Partners analyst Conor Cunningham lowered the price target on Southwest Airlines Co (NYSE:LUV) to $56 (an upside of 25%) from $61 but maintained a Buy rating on the shares ahead of its investor day next week.

* Cunningham mentions the stock has fallen about 6% this month amid recent concerns regarding the omicron variant. Still, the management's 2022 focus will likely fall on addressing the ongoing pandemic-related headwinds around network, hiring, and productivity, and these will ultimately become tailwinds.

* Recently, Raymond James lowered its price target to $60 (an upside of 33%) from $62 and maintained an Outperform rating on the shares.

* Price Action: LUV shares are trading higher by 1.22% at $44.94 on the last check Wednesday.