Deutsche Bank is out with a research report on Southwest Airlines Co. LUV and is downgrading shares to Hold with a $9 price target.
In a note to clients, Deutsche Bank writes, Following on the heels of last week's upward revision to many of our stocks, we are once again raising our Sep Q and 2011 EPS estimates for Alaska (Buy, $57.53) (ALK) and Allegiant (Buy, $47.28) (ALGT) due to better-than-expected revenues and modestly lower fuel prices.
Conversely, we are lowering our EPS estimates for Southwest (Hold, $7.69) (LUV) to reflect a more gradual ramp-up of benefits related to the acquisition of AirTran.
Shares of LUV lost 17 cents on Friday to close at $7.69.
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