Southwest Airlines upgraded at Jefferies after selloff

Jefferies upgraded Southwest Airlines (LUV) to Hold from Underperform and raised their price target to $28 from $20. The stock sold off on Tuesday after Southwest announced it was reducing its capacity plans and reevaluating its full-year guidance because Boeing (BA) told the company it couldn't deliver as many 737 Max planes as initially expected. Jefferies analysts say that following the selloff, Southwest's shares are "now fairly valued." Yahoo Finance's Seana Smith and Madison Mills discuss the call in the video above. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live. Editor's note: This article was written by Stephanie Mikulich