Soleil Securities Raises Price Target on Southwest (LUV) Given Current Market Trends

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Soleil Securities is reiterating its Buy rating on shares of Southwest (NYSE: LUV) and is raising its price target from $15 to $16 following current market trends.

The firm is also raising its FY11 and FY12 EPS estimates from $0.57 and $0.99 to $0.62 and $1.03. These new estimates do not include any revenue benefits from the AirTran merger, which is expected to bring an upside and will begin to show up in the coming months. Soleil believes that shares of LUV have the most hidden upside potential in the group because of the AirTran acquisition.

For more ratings news on Southwest click here and for the rating history of Southwest click here.

Shares of Southwest closed at $12.07 yesterday, with a 52 week range of $10.42-$14.32.

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