Argus Research Analyst Downgrades Southwest Airlines Co (LUV)

Argus Research analyst, John Staszak, downgrades Southwest Airlines Co (NYSE:LUV) from Buy to Hold without a price target following the company’s Q2 earnings miss.

The analyst believes that the company is going to face higher costs related to a major technological failure on July 20, which caused thousands of flight delays and cancellations.

The analyst lowers his 2016 EPS estimate from $4.32 to $4.24.

According to TipRanks, John Staszak is ranked #110 of 4,081 analysts. He maintains a success rate of 65% and realizes an average profit of 12.8%. When rating LUV, the analyst maintains a success rate of 80% and an average profit of 31.4%.

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