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Upgrade Alert for Southwest Airlines (LUV)

By James Quinn

Southwest Airlines (NYSE:LUV) was upgraded from Hold to Buy at Evercore ISI today. The stock closed yesterday at $38.28 on volume of 10.5 million shares, above average daily volume of 6.2 million.

There is potential upside of 39.2% for shares of Southwest Airlines based on a current price of $38.28 and an average consensus analyst price target of $53.29. The stock should find initial resistance at its 200-day moving average (MA) of $41.68 and further resistance at its 50-day MA of $44.17.

Southwest Airlines Co. is a domestic airline that provides primarily short-haul, high-frequency, point-to-point service. The Company offers flights throughout the United States.

Over the past year, Southwest Airlines has traded in a range of $31.36 to $51.34 and closed yesterday at $38.28, 22% above that low. The 200-day and 50-day moving averages have moved 0.39% higher and 0.35% higher over the past week, respectively.

SmarTrend is monitoring the recent change of momentum in Southwest Airlines. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Southwest Airlines in search of a potential trend change.

Keywords: analyst upgrades/downgrades Southwest Airlines

Ticker(s): LUV