In a report published Wednesday, Credit Suisse analyst Julie Yates upgraded the rating on Southwest Airlines Co. LUV from Neutral to Outperform, and raised the price target from $48.00 to $62.00.
In the report, Credit Suisse noted, “Our 2015E rises to $3.67 (from $2.97) following a detailed review of our model after last week's earnings. We are upgrading shares to Outperform from Neutral and raising our TP to $62, 35% potential upside from yesterday's close. Shares are trading at 12.5x our new 2015E, several turns below its historical mid-high teens multiple.”
Southwest Airlines closed on Tuesday at $45.88.
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