Why Shares of Southwest Airlines Are Up Today

Shares of Southwest Airlines (NYSE: LUV) took flight on Monday after the stock received an upgrade from a key Wall Street analyst. Southwest shares were up 7% as of midday EDT.

Southwest and other airlines have been hit hard by the COVID-19 pandemic, which has caused travel demand to evaporate and has caused the industry to scramble to raise cash and cut costs. Southwest has never had to resort to layoffs or furloughs during its 49-year history, but the airline has warned that streak could be in jeopardy if conditions do not improve in the months to come.

Image source: Boeing.

Source Fool.com