I was also going to say the exact same thing. If you look at the market overall as a multiple of earnings, it's insanely overvalued right now compared to historical multiples. Everyone has a short memory when it comes to investing, and analysts quite often miss the mark. SWA is going to be flat for the year to be sure, as earnings are not due to ramp up until revenue enhancements come on line starting early 2026. After that, it largely depends on how the airline is managed and how the economy is doing.
I only invest in LUV because I get a discount on it and I think it has a long term potential for upside. My exposure to it as a savings and investing tool is very limited, though. Only idiots invest in airlines as a serious way to make money. That includes Elliot. My guess is that they could have gotten a lot more blood out of another turnip.