UPDATE: Credit Suisse Upgrades Southwest Airlines On Estimate Revisions

In a report published Wednesday, Credit Suisse analyst Julie Yates upgraded the rating on

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.