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Sign InTD Cowen has raised its price target for Southwest Airlines (LUV) to $47.00 while maintaining a 'Buy' rating following the company's Q1 2026 financial results. Despite a return to profitability and achieving record Q1 revenue driven by high-yield product options, the company's shares fell 5.7% in recent trading. Earnings per share reached $0.45, meeting expectations, but the $7.25 billion in revenue missed the $8.46 billion analyst forecast. Management attributed the underlying performance to successful monetization efforts and new premium product segments. The updated price target implies an 18.9% upside, though the broader market consensus remains at 'Hold' due to top-line concerns. This update highlights a disconnect between the airline's record operational milestones and the immediate negative stock price reaction.