** Raymond James cuts price target on Southwest Airlines LUV.N to $40 from $42, citing weakness in domestic "main cabin"

** New PT still a 50% upside to stock's last close

** Co's shares up 1.2% at $27 in early trading

** "We viewed 2Q25 as the highest risk quarter given the lag to implementation or maturation of key initiatives" - Brokerage

** Brokerage, however, reiterates 'outperform' rating

** 5 of 23 brokerages rate the stock "buy" or higher, 11 "hold" and 7 "sell" or lower; their median PT is $26.50 - LSEG

** As of last close, stock had fallen 19.6% YTD

(Reporting by Apratim Sarkar)

((Apratim.Sarkar@thomsonreuters.com))