Bank of America Corp. upgraded shares of Southwest Airlines (NYSE:LUV) from an underperform rating to a neutral rating in a research report released on Monday morning, AnalystRatingsNetwork reports. Bank of America Corp. currently has $15.00 price objective on the stock, up from their previous price objective of $12.50.
“As a result of stronger-than-expected domestic pricing, we are bringing our LUV estimates closer to consensus: raising 3Q13 by $0.03 to $0.28 ($0.13 a year ago), CY13 by $0.07 to $0.92 (street, $0.97, $0.55 in 2012), and CY14 by $0.10 to $1.05 (street $1.15). As a result of the higher estimate and increase in sector valuation, we are lifting our rating to Neutral from Underperform and our P.O. to $15.,” the firm’s analyst wrote.
Southwest Airlines (NYSE:LUV) traded down 0.92% on Monday, hitting $14.565. 1,534,862 shares of the company’s stock traded hands. Southwest Airlines has a 52 week low of $8.68 and a 52 week high of $14.82. The stock’s 50-day moving average is $13.56 and its 200-day moving average is $13.48. The company has a market cap of $10.286 billion and a price-to-earnings ratio of 28.43.
Other equities research analysts have also recently issued reports about the stock. Analysts at JPMorgan Chase & Co. raised their price target on shares of Southwest Airlines (NYSE:LUV) from $12.00 to $12.50 in a research note to investors on Tuesday, September 17th. They now have an underweight rating on the stock. Separately, analysts at Zacks reiterated a neutral rating on shares of Southwest Airlines (NYSE:LUV) in a research note to investors on Monday, August 26th. They now have a $14.00 price target on the stock. Finally, analysts at Raymond James downgraded shares of Southwest Airlines (NYSE:LUV) from an outperform rating to a market perform rating in a research note to investors on Friday, July 26th. They now have a $15.00 price target on the stock.
Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average price target of $15.21.
Southwest Airlines Co operates Southwest Airlines, a passenger airline, which provides scheduled air transportation in the United States.
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