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CFRA sees Southwest Airways (NYSE:LUV) as probably the greatest picks within the transportation sector with the agency having a Sturdy Purchase ranking on the airline inventory.
Analyst Colin Scarola and group level to a robust long-term progress trajectory for LUV and engaging valuation.
“LUV already has the employees and gates in place to materially develop capability in 2023, and is simply ready on extra 737s from Boeing. This may permit for very low incremental value to new income in 2023, and due to this fact a significant step-up in margin, in our view. LUV additionally has the trade’s strongest steadiness sheet, with destructive internet debt of -$3.6B. This starkly contrasts with most friends whose leverage has soared to regarding ranges for the reason that pandemic.”
Southwest Airways can be famous to rank #1 or #2 in money generated per airplane resulting from its sturdy model and low working prices, derived from hubs situated exterior of pricy metros and a single plane mannequin. That’s seen organising LUV for sturdy free money movement in 2023-2024.
The agency’s 12-month goal value of $47 is 12X the 2024 EPS estimate, which the agency famous is in keeping with LUV’s pre-pandemic 2018-2019 ahead P/E a number of.
The In search of Alpha Quant Score on LUV is at Sturdy Purchase with excessive marks for valuation and profitability standing out.
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