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Southwest Airlines (NYSE:LUV) was upgraded by investment analysts at Bank of America Corp. from an “underperform” rating to a “neutral” rating in a note issued to investors on Monday, American Banking and Market News reports. The firm currently has a $15.00 target price on the stock, up from their previous target price of $12.50. Bank of America Corp.’s price objective would suggest a potential upside of 4.09% from the stock’s previous close.

The analysts wrote, “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.”

Southwest Airlines (NYSE:LUV) opened at 14.41 on Monday. Southwest Airlines has a 52-week low of $8.68 and a 52-week high of $14.66. The stock’s 50-day moving average is $13.52 and its 200-day moving average is $13.44. The company has a market cap of $10.177 billion and a P/E ratio of 27.87.

Southwest Airlines (NYSE:LUV) last released its earnings data on Thursday, July 25th. The company reported $0.38 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.38. The company had revenue of $4.64 billion for the quarter, compared to the consensus estimate of $4.66 billion. During the same quarter in the prior year, the company posted $0.36 earnings per share. The company’s quarterly revenue was up .6% on a year-over-year basis. On average, analysts predict that Southwest Airlines will post $0.98 earnings per share for the current fiscal year.

A number of other firms have also recently commented on LUV. 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 research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company’s stock. Southwest Airlines currently has a consensus rating of “Hold” and a consensus 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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