Barclays Upgrades Southwest To Overweight, Sees 38% Upside

Barclays analyst Brandon Oglenski upgraded Southwest Airlines Co LUV to Overweight from Equal Weight and raised the price target to $75, from $64, implying an upside of 37.96%.
Oglenski says that while the recovery has taken longer than expected, "bluer skies ahead for airlines."
He further adds, with "ample support" from U.S. taxpayers via cash grants and some low-cost loans, airline balance sheets have been kept in relatively healthy shape.
Southwest affords long-term investors a "fortress balance sheet, favorable order book with Boeing and a historically profitable business model," says Oglenski, favoring low cost and low fare airlines.
Also Read: JPMorgan Raises Price Target For Frontier Group, Southwest, Alaska Air; Downgrades Spirit Airlines
Price Action: LUV shares are trading higher by 2.06% at $55.47 during the premarket session on Monday.

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