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Watch airline stocks today after the massive $9.8 billion German bailout of Lufthansa. There will be more pressure for greater aid to US carriers.
In addition, UBS placed a buy rating on Southwest (LUV) this morning, hiking its target to $41 from $37.
“We see a clearer path for domestic travel recovery…and have started to see enough evidence of LUV’s cash burn reduction that some of the tail risk is removed” UBS analyst Myles Walton told clients.
We are adding to a new position in Materials in our Hotline Model Portfolio.
The markets are soaring on economies reopening and hopes for a vaccine, sooner rather than later.