UPDATE - Barclays Upgrades Southwest Airlines (LUV) to Overweight; Summer LUVin'

UPDATE - Barclays upgrades Southwest Airlines (NYSE: LUV) from Equalweight to Overweight. PT raised from $11 to $13.

Analyst, David E. Fintzen, said, "For the first time in many years, we see reason for optimism on LUV shares. While not a panacea for all that ails Southwest, we believe the market underestimates efforts to re-allocate flying that begins in earnest this summer. Further, we believe the market underestimates the medium-term earnings potential of flat capacity for an extended period accomplished via fewer, but larger aircraft."

Fintzen notes three points that could help LUV improve on earnings: 1) Schedule adjustments; 2) Fleet initiatives; and 3) AirTran integration.

Barclays raises FY12 EPS estimate from $0.50 to $0.65 and FY13 from $0.75 to $0.95

To see more ratings changes on LUV, Click Here

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