Southwest Airlines Co.’s LUV move to change its flight schedule to reflect post-pandemic changes in air travel is “right,” but the benefits won’t be felt for another six months or so, Raymond James analyst Savathi Syth said in a note Friday. Syth downgraded her rating on Southwest’s stock to “outperform,” from “strong buy.” Expectations of a return to 2019-level of profitability are pushed back to 2025, from 2024, “until we gain greater conviction in the effectiveness of various initiatives,” Syth said. “To be clear, we do not believe the Southwest model is broken, and we believe valuation should reflect its net cash…
