Southwest reports January revenue passenger miles up 2.2% to 7.4B Available seat miles decreased 2.6% to 9.7B. January load factor was 76.3% vs. 72.7% in January 2013. Passenger revenue per ASM is estimated to have increased approximately 5% vs. January 2013. This increase includes one point of estimated PRASM benefit from January 2014's storms.
Southwest price target raised to $48 from $35 at Imperial Capital Imperial Capital raised its price target for Southwest shares to $48 saying the company should benefit from "strong" domestic industry trends and lower fuel prices. The firm keeps an Outperform rating on the stock.